What Insurance Act 2015: The Insured's Duty of Fair Presentation requires
The UK Insurance Act 2015 requires non-consumer insureds to make a 'fair presentation of the risk' to insurers before a contract is entered into, as defined in Section 3. This involves disclosing every material circumstance known or that ought to be known by the insured's senior management and those responsible for its insurance, or providing sufficient information to put a prudent insurer on notice to make further enquiries.
Pillar: Banking & Global Finance · Authority: UK Parliament · Version: 1.0.0 · Last updated:
Primary source: https://www.legislation.gov.uk/ukpga/2015/4/contents
SHA-256 integrity: 79f60f82449be15ce70ed59843a58d32bbd35f3a8f1486ebc5072e9d43e7de92
Primary Citations — 6 traced to source
- Insurance Act 2015, Section 3 - The duty of fair presentation
- Insurance Act 2015, Section 4 - Knowledge of the insured
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