What does the Insurance Act mean for the UK Business Owner?
And have you reviewed your insurance as a result? Why would I need to? Well, policyholders are now under a duty to make a ‘fair presentation of the risk’ to insurers when taking out insurance. Simply put, the disclosure must be of every material circumstance which the policyholder knows or ought to know. This is anything which would influence the judgement of a prudent insurer in determining whether to take the risk and, if so, on what terms. There is no specific limitation o