The Law Commission is proposing significant reform of insurance contract law in England and Scotland. The review will cover business and consumer insurance and reinsurance. Given the scope of the review, the project will be dealt with in two parts and the Law Commission does not anticipate publishing a final report before 2010.

The review will be divided into two parts: misrepresentation, non-disclosure and breach of warranty; and all other issues apart from codification. Other issues likely to be considered include: insurable interest; a statutory definition of insurance; agency and insurance; subrogation; joint policyholders; post-contractual good faith and the duty of good faith as it applies to insurers; fraud (including a definition of fraud and a statement of its effects); unjustifiable delay; reinsurance; and "worthless" policies.