Brokers urged to swot up on Consumer Insurance Act
Brokers have been urged to stay on top of the new Consumer Insurance Act to avoid an insurer backlash.
Sister title Post reported that Steve Foulsham, technical services manager at the British Insurance Brokers' Association, advised brokers to ensure their insurance partners are complying with the new regulation.
The Act, which come into force earlier this month, removed consumers' duty to disclose material facts, and instead placed the emphasis on brokers and insurers to ask the right questions of ahead of quoting cover.
Mr Foulsham warned: "Inevitably, we could get to a stage where insurers
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