Insurance is an essential condition to undertake commercial transactions or complex ventures, whatever their nature. As a foundation for commerce, insurance plays an important role in society, for commercial risk management as well as a safety net for undertakings. The commercial insurance industry in the UK, with its centre at Lloyd’s of London, is of global importance. In this module, we explore how insurance contracts are made and how to interpret commercial insurance policies against the background of insurance case law and statutes. UK law underwent significant statutory reform in 2016 and it is therefore a dynamic period and an exciting time to study insurance law. The module looks not only at what the law is, but also at what it ought to be, with inspiration from other jurisdictions.