In this IIL marine & energy lecture Joe O’Keeffe will talk about the extent to which the Insurance Act 2015 can be expected to impact claims outcomes when compared with the position under the previous law.

The Insurance Act 2015 has significantly changed the remedies available to insurers in the event of breach of the pre-contractual duty of utmost good faith or breach of warranty. Joe will discuss the impact of such changes on claims outcomes by reference to decided cases (included his case, the Galatea) and explore the extent to which the outcomes pre-Act and post-Act would have been different. He will comment on his experience of the impact of the new Act on claims arising under policies written since the Act became law. He will then conclude with a broad (non-actuarial) assessment and commentary, based on those examples and on his experience, as to his views on likely impact of the Act on the overall claims experience.