New Bill puts responsibility for securing risk info on insurers
The onus of responsibility to provide all relevant information regarding a risk has shifted from the customer to the insurer following the introduction of a new Bill.
Mark Hoban, financial secretary to the Treasury, said that “having considered the response to the Treasury’s targeted consultation on the Consumer Insurance (Disclosure and Representations) Bill, the Government have decided to take forward the proposed reforms, when parliamentary time permits”.
These reforms are based on the recommendations made by the Law Commission and the Scottish Law Commission in their 2009 report “Consumer Insurance Law: Pre-Contract Disclosure and Misrepresentation”.
The
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