The Insurance Act 2015 - Searchlight Insurance Training

The Insurance Act 2015

This legislation is the biggest change in insurance law for over one hundred years and fundamentally alters the law on material facts and warranties. Therefore staff at all levels need an understanding of the new legislation and how it might apply in practice.

This half day workshop is designed for staff and executives of insurers and brokers who wish to gain a better appreciation of what this legislation involves.

The workshop provides an overview of the Act, what the new law means and how business processes will need to change.

AM workshops 09:30-12:30

PM workshops 13:30-16:30

PLEASE CONTACT US FOR INFORMATION AND COSTS TO DELIVER THIS WORKSHOP AT YOUR OFFICES.

If you would like to attend an open market course, please contact brokeracademy@ssluk.net and we will add your name to our waiting list.

Level:

Duration: 0.5 day(s) CII CPD Hours: 3
     

WORKSHOP OBJECTIVES

Explain the background the new law

State the main features of the Act and explain how these might apply in practice

Distinguish the different types of remedies available to insurers where there is a failure to make a fair presentation.

WORKSHOP CONTENT

Background to the Act

• Why the previous rules were confusing and penalties harsh for non disclosure of material facts and breach of warranty

Review of the new Act

• What is a fair presentation ?
• What is required to be disclosed and by whom ?
• New policies and variations of existing policies
• Discuss what is meant by reasonable care
• Warranties and representations

Qualifying misrepresentation

• What they are
• Remedies available to insurers
• Discuss examples of remedies