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Adviser: The Insurance Act 2015 - The New Regime of Proportionate Remedies


The Insurance Act will come into force on 12 August 2016 and will affect all policies subject to the laws of England and Wales, Scotland, and Northern Ireland. Under the Act, when taking out, renewing, or varying a business insurance policy on or after that date, the insured will have a new duty to make a “fair presentation” of the risk. If the insured breaches this duty, insurers will have a new range of “proportionate” remedies available to them. Our latest Adviser examines:

  • The current law.
  • The new law.
  • The new duty of fair presentation – a reminder.
  • How proportionate remedies will work in practice.
  • Proportionate remedies in relation to variations of policies.
  • How insurers will have to prove what they would have done.
  • Whether you have to accept proportionate remedies.
  • The potential impact of proportionate remedies on claims handling.
  • Steps you should consider taking now to start preparing for the new regime.