Insurance Act 2015 – A Guide to Fair Presentation

This paper builds on two Airmic briefings – The Insurance Act 2015: what members need to know (which can be found in Appendix 1 of this guide) and The Insurance Act 2015: Taking Advantage of the Insurance Act’s benefits now.

Here, Airmic aims to break down the duty of fair presentation into six key elements and suggest how members can review their own internal processes when considering their own compliance with this duty.

The six key elements covered in this report are:
1. Knowledge of senior management.
2. Knowledge of individuals responsible for insurance.
3. Information that should reasonably be revealed by a reasonable search.
4. Presenting information in a clear and accessible manner.
5. Insurer knowledge.
6. Failing achievement of 1-3, providing sufficient information to put a prudent insurer on notice.

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Choice Insurance Agency Ltd is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/s/) under reference 300183. We are an Underwriting Agency working in partnership with key brokers around the UK to place quality business with our panel of leading insurers. Registered in England and Wales number 4420555. Registered office: Suite 3, 4a Southchurch Road, Southend-on-Sea, Essex, SS1 2NE.

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