Insurance Act 2015: A guide to fair presentation

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This paper builds on two Airmic briefings – The Insurance Act 2015: what members need to know (which can be found in Appendix 1 of this guide) and The Insurance Act 2015: Taking Advantage of the Insurance Act’s benefits now. Here, Airmic aims to break down the duty of fair presentation into six key elements and suggest how members can review their own internal processes when considering their own compliance with this duty.

The six key elements covered in this report are:
1. Knowledge of senior management.
2. Knowledge of individuals responsible for insurance.
3. Information that should reasonably be revealed by a reasonable search.
4. Presenting information in a clear and accessible manner.
5. Insurer knowledge.
6. Failing achievement of 1-3, providing sufficient information to put a prudent insurer on notice.