A toolkit to guide users through Practical Law's UK, EU and Global insurance materials. Practical Law's UK web services provide some general insurance materials, together with materials on the regulation of the insurance sector in the UK and the EU. In addition, some of our UK web services offer sector-specific insurance materials and current awareness updates on insurance-related developments that fall within their scope. Practical Law Global provides a Global guide to insurance and reinsurance law in 21 countries.
Insurance premium tax (IPT) is a tax (authorised under European Community law) on the premium paid under taxable insurance contracts. It was introduced by the Finance Act 1994. This note gives a general overview of IPT as it applies to practical issues commonly encountered by the practitioner.
Tax is likely to be one of the main concerns for the corporate parties to any outsourcing arrangement. This practice note explains the tax issues that may arise both during the commercial and tax structuring of an outsourcing involving the UK and when the outsourcing is "up-and-running" and the outsourced services are being provided by the relevant service provider.
This note considers the scope of cover provided by a typical professional indemnity insurance policy, including the type of liabilities covered, the matters that may be excluded and the manner in which the amount of cover is determined under the policy. It also explains the claim notification requirements usually found in the policy, the insurer's liability for defence costs and its role in handling the underlying claim against the insured.