Since the Insurance Act 2015 came into effect, it is meaningful for people in the Insurance Industry to be acquainted with certain key changes and/or some reasons of these changes. Official materials, such as Law Commission report relevant to Insurance Contract Law and oral or written evidences from the Bill Committee on Insurance Bill, are selected to deduce what ought to be the judicial practice. A certain amount of prejudication or case law is also of benefit to our perception of the Insurance Act 2015. These materials indicate that the Insurance Act 2015 balances various interests and is going to be impactful around the world. The article is divided into four main parts: the first is an introduction to the principles of fair presentation and proportionate remedy; the second is an analysis of breach of warranty in the context of the new Act; the third examines remedies for fraudulent claims; and the last part looks at how the Act is supplemented by the Enterprise Act 2016 on the issue of compensation of late payment.
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