As part of their on-going review of Insurance Contract Law, the Law Commissions have made recommendations on business customers' duty to provide pre-contract information to their insurer and the actions insurers can take if the policyholder breaches the warranty. Most of these recommendations have been included in the Insurance Bill which was laid before Parliament on 17 July. This Bill would almost complete the range of reforms to insurance contract law to make it consistent with current regulatory and legal practice.
This CII policy briefing sheds light on developments and outlines the key features of the Bill.
• Duty of disclosure.
• Breach of warranty.
• ‘Basis of contract' clauses.
• Remedies for fraudulent claims.