You probably haven’t heard of the Insurance Act 2015 (The Act) but it represents the most significant change to insurance contract law in the last 100 years. It is intended to create a new and fairer balance between policyholder and insurer.
The Act comes into force on 12th August 2016 and it changes how insurance is arranged and placed and affects some policy wordings. All Commercial Insurance policies entered into or renewed or amended on or after 12th August are subject to the provisions of the Act.
Here we explain the main provisions of The Act which will directly impact you (click ‘The Act’ button below to view). Over the next few months, we will continue to update you via our website and by direct contact.