The Insurance Act 2015 is a major change to insurance law which came into force on 12 August 2015. It applies to insurance policies which start on or after that date or to any existing policies subject to a rate review or change which are effective on or after that date.
Although the day to day impact on group risk polices is likely to be minimal, all providers will reiterate the importance of disclosing all material facts when considering a new, or renewing an existing policy.
Key to the impact on group risk polices is:
- The duty of fair presentation
- New remedies for the non-disclosure of material facts
- Fraudulent claims
What does this mean?
To find out, please download the full briefing note below.