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Policy drafting and distribution

We understand that even a small oversight in a policy wording can result in substantial losses for insurers, poor client service and regulatory intervention.

Our experienced team drafts policy wordings in all categories of insurance business. In recent years, we have drafted or redrafted over 1,000 wordings across all lines of business and over 15,000 bespoke policy endorsements. We have also drafted a large number of bespoke wordings for a wide range of schemes including battle re-enactment societies, motor racing organisations, beekeepers and music studios. Our unrivalled experience means we are always up to speed with the latest underwriting considerations and policy wording developments.

Commitment to plain English

We understand the need for policies to be written in plain English and in keeping with your brand and house style. In conjunction with leading linguists at the University of Nottingham we’ve developed specific drafting techniques that have been independently proven to significantly reduce the reading age of policy wordings, in some cases by more than 10 years, to increase comprehension. To view details of the full study, please click here. Our cutting-edge research in this area, which benefits all our policy wordings clients and their customers, resulted in our partner who led the project, Tim Johnson, being named in the Legal Hot 100 for 2022 by The Lawyer magazine.

Policy distribution

We also advise insurers and intermediaries on legal and regulatory issues relating to policy distribution, to ensure products are distributed in accordance with all requirements and that their interests are preserved. We advise on compliance with ICOBS, the Insurance Act 2015, the Consumer Insurance (Disclosure and Representations) Act 2012 and the Insurance Distribution Directive. We also advise on commercial documentation relating to the distribution of insurance, including reinsurance agreements, TOBAs, binders, TPA agreements, software agreements and other contractual documents.

What we do...

  • Our clients - we act for London market insurers, Lloyd’s syndicates, niche and specialty insurers, MGAs brokers and broker networks.
  • Our experience – a team of policy drafting specialists who have drafted policies in all classes of insurance business and advised all participants in an insurance distribution chain on their regulatory obligations and contractual arrangements. 
  • Flexible pricing – where possible, we’ll agree fixed fees to give you peace of mind and costs certainty. For some clients we act as their outsourced policy wordings team on a retainer basis.
  • Fully flexible service - we can provide everything from a simple policy health check to a fully project managed creation of a new product suite, including our outsourced endorsement drafting service. For large projects and outsourced services, we can allocate a dedicated administrator, e-mail address and telephone number for your sole use.
  • Guidance and support – we regularly provide training and legal updates to clients on all matters relating to policy drafting. We also meet with underwriters on a regular basis to discuss market and legal developments.
  • Industry membership – members of Forum of Insurance Lawyers, Lloyd’s Market Association, British Insurance Law Association, Managing General Agents Association and the British Insurance Brokers Association.

Featured experience

Review a range of bespoke scheme wordings

We were recently instructed to review a range of bespoke scheme wordings that were drafted in house, prior to launch. We identified a number of legal issues and made suggestions as to how those issues could be resolved and how the wording could be made clearer. As a result of our review, a number of potential gaps were identified and closed.

Outsourced endorsement drafting service

We provide an outsourced endorsement drafting service for a major insurer. On a delegated authority basis, we draft and sign-off over 1,000 endorsements per year (with over 10,000 endorsements signed off to date). Endorsements are signed off within tightly agreed SLA deadlines. As part of the service, we also log a significant amount of MI, which is reported back to the client in an agreed format, identifying any trends to senior management.

PROD reviews

Undertaking PROD reviews for a number of insurers and MGAs.

Various new market entrant MGAs

Advising various new market entrant MGAs on their policy wordings, TOBAs, binders and other contractual agreements to ensure they were up and running as quickly as possible.

Related expertise

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