Emergency Contact Notice to Members concerning the International Group's position on the Insurance Act 2015 Home Latest updates Publications Notice to Members concerning the International Group's position on the Insurance Act 2015 18 Nov 2015 Download page as PDF Sign up for alerts The UK Insurance Act 2015 The UK Insurance Act 2015 (the “new Act”) will come into force on 12 August 2016 (during the 2016/17 Policy Year). The new Act seeks to provide further protection to both consumer and non-consumer buyers of insurance.  As such it will change English insurance contract law currently codified in the Marine Insurance Act 1906 (“MIA 1906”).  When being drafted it was recognised that the new Act might not be required in sophisticated markets, with the marine insurance sector named as one such market.  Rather, it was anticipated that some insurers would contract out of (i.e. not apply) many of the new Act’s provisions. P&I is a sophisticated insurance market, with well established practices that benefit both Members (the insured) and the P&I Club (the insurer).  Eight of the Clubs in the International Group (“the IG”) are affected by the new Act because their Rules are subject to English law, including the MIA 1906.  Accordingly and in the interest of continuity across the wider International Group, the consensus amongst the eight IG Clubs is to contract out of certain aspects of the new Act.  Nevertheless, those eight IG Clubs recognise that some provisions of the new Act should be adopted as they clarify certain aspects of the law which are presently uncertain. Implementation date The new Act will apply to contracts of insurance entered into from 12 August 2016 (half way through the coming 2016/17 policy year).  In anticipation, the eight affected IG Clubs will be making changes to their Rules with effect from 20 February 2016.  Members will be notified of these Rule changes by their Clubs in the normal manner.  Th