What does the new government mean for UK insurers?
For starters, fears about repeal of reforms introduced by the last UK government have been laid to rest. Opposition criticisms around non-recoverable success fees and the draconian nature of the new Criminal Justice and Courts Act provisions on fundamental dishonesty are now unlikely to gain traction. Initiatives such as MedCo have seemingly avoided the risk of being shelved. It is "business as usual" regarding implementation of the Insurance Act and the Law Commission’s work on insurable interests, at the very least allowing insurers more certainty when it comes to forward planning.