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UK and Ireland

Insurance in Ireland operates in a similar legislative and cultural environment to the UK. Before passing the Consumer Insurance Contracts Act 2019, the principal statute governing insurance contracts in Ireland was the Marine Insurance Act 1906, which remains in force in a largely unaltered manner for commercial insurance in Ireland, similar to the way it did in the UK following the commencement of the Insurance Act 2015. The Irish insurance industry and market is further interwoven with the UK market by tradition and custom, with practices in the insurance industry in Ireland largely mirroring that of the UK. Many Lloyd’s underwriters write business in Ireland, and most large UK insurers have operations in Ireland.

For consideration of the key differences between Irish and UK insurance law, including consumer and non-consumer contracts; the different rules regarding fair presentation, the duty of disclosure and utmost good faith, third parties rights against insurers; and the role of the Central Bank of Ireland and the Financial Conduct Authority, see Practice Note: Differences between Irish insurance and UK insurance law.

For information how third parties rights against insurers differ in Ireland,