The New Duty of Fair Presentation: The Insurance Act 2015 Webcast Replay
Our first in the series of webcasts on the Insurance Act 2015 provided key information about the new "duty of fair presentation", which applies to all insurance and reinsurance policies governed by the laws of England and Wales, Scotland or Northern Ireland and that are placed, renewed, or varied on or after 12 August 2016.
The panel discussed:
- What constitutes the new "duty of fair presentation".
- How the new duty is different from the previous law (the Marine Insurance Act 1906).
- Practical steps policyholders can take to comply with the new duty.
- The consequences of non-compliance with the duty, namely the new regime of "proportionate remedies".