Commercial insurers are readying themselves for the implementation of one of the biggest shake-ups the market has ever seen: the Insurance Act.
The Act creates several new challenges for insurers, brokers and policyholders. The duty of disclosure has changed to one of fair representation, basis of contract clauses have been abolished, and warranty breaches that are remedied quickly will allow cover to continue from the date of remedy.
To gauge what the industry thinks of the reforms, Post, in collaboration with law firm BLM, brought together insurance, broking, legal and risk management experts to discuss the challenges the Act will pose for the insurance sector.
Download this video to watch the roundtable discussion.