The Insurance Act, which comes into force on 12 August 2016, represents the greatest change to insurance contract law in this country in over a century. The Act will sweep away certain provisions of the Marine Insurance Act 1906 in order to reflect the demands of today’s insurance market. It will mainly influence commercial insurances and will apply to contracts issued, renewed or amended after 12th August 2016 if governed by UK Law.
http://www.howdengroup.co.uk/en/knowledge-base/professional-indemnity/insurance-act/
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from Conveyancing Association http://www.conveyancingassociation.org.uk/key-impact-of-the-insurance-act-for-solicitor-firms/
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