The Insurance Act’s underlying purpose is a laudable one: to encourage professionalism amongst all parties involved in commercial insurance. The Act is a short and fairly simple document. However, it also raises a number of tricky practical questions and creates potential hazards for the broker and customer. It subtly re-engineers the foundations on which insurance policies are built.
This guide focuses on helping brokers to prepare their customers and to avoid compliance failure themselves, while also raising awareness of the corresponding challenges facing insurers.
• The challenges of implementation.
• Implementation measures – a blueprint.
• Broker toolkit updated.
• The Enterprise Bill and why it matters for brokers.