Insurance Act 2015: Taking advantage of the Insurance Act’s benefits now

Airmic has published a technical briefing paper designed to help insurance buyers benefit from some of the changes in the 2015 Insurance Act before it comes into force. The new law was passed in February and represents fundamental reform of the laws governing commercial insurance, including crucial safeguards for policyholders. However, without changing current policy wordings, insurance buyers won't see the benefits until August next year.

The paper provides policyholders with a series of sample wordings, or endorsements, to help members amend their existing terms of a policy to replicate some of the core reforms of the new Act.