Insurance Act full of potential traps, warn lawyers
Lawyers Colin Wynter and Stuart Hill explain the possible pitfalls for brokers ahead of the implementation of the Insurance Act.
The Insurance Act contains potential pitfalls for brokers, Colin Wynter and Stuart Hill, partners at law firm Wynterhill have warned.
Hill told Insurance Age that the Act, which comes into force in August this year, would bring into focus the act of gathering information for disclosure to insurers in a way which is "wholly different from what has gone before".
"The intent of the Act was to remedy what everyone perceived to be the great injustice that if someone failed to disclose something
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
PIB kicks off 2025 buys with Residentsline
PIB has bought flats and apartments insurance specialist Residentsline from managing director owner Belinda Bagnall in its first deal of the year.
People Moves: 10 – 14 February 2025
Keep up to date with the latest insurance industry personnel moves.
Motor MGA widens distribution after targeting £125m GWP with Zurich capacity
Managing general agent Freedom Services is aiming to more than double the business it writes to £125m gross written premium through a capacity deal it struck with Zurich in 2024, Insurance Age can reveal.
Radius Insurance Solutions adds ex-Aon and Hiscox leader Philip Thorn as MD
Radius Insurance Solutions has appointed Philip Thorn from Aon as managing director, succeeding Matt Kirby.
Market Movement Index: Brokers cutting agencies to focus on fewer insurers
Analysis from Broker Insights shows brokers are consolidating agency numbers and ending relationships with smaller, less useful, insurers. Rachel Gordon breaks down the data.
Ghost broking cases jump nearly a quarter at Action Fraud in 2024
Action Fraud received 817 reports of ghost broking in 2024, a 24% increase on the previous year, the organisation has confirmed.
MGA Aspect expands in property with more products promised for brokers
High-hazards mid-market specialist managing general agent Aspect has rolled out a broader range of product capabilities and a brand refresh.
Amwins reveals three-part MGA structure
Amwins Global Risks has reorganised its underwriting operations into three entities, including UK-based managing general agent Unicorn Underwriting.