Insurance Act 2015

The Insurance Act 2015 will come into effect on 12 August 2016 and will represent the most significant changes to insurance contract law. The new changes will introduce a new and fairer balance between the policyholder and insurer. The key provisions of the Act are as follows: Disclosure and Misrepresentation Warranties Insurers remedies for fraudulent claims Contracting Out Disclosure and Misrepresentation The policyholder will be under a new duty of “fair presentation”, replacing the previous duty to disclose all material facts. The policyholder will have to undertake a reasonable search…

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