In early 2015, AXA welcomed the Insurance Act 2015 (the Act) and adopted it early, for new claims under policies incepted or renewed from 1 April 2015.
Axa are now pleased to set out, in detail, their plans for implementation of the Act on 12 August 2016. Changes will be communicated to customers through their brokers from 12 August 2016.
The Act relates to commercial insurance contracts and encourages a better exchange of information between all parties.
A key aspect of the Act is the new duty of Fair Presentation. Axa have now set out how they intend to adopt this duty into their policy wordings with a new Fair Presentation of Risk policy condition. In the coming weeks Axa will provide us with further guidance on the new duty, setting out the information that needs to be disclosed to satisfy a Fair Presentation under the Act.
Axa’s Claims and Underwriting teams have been briefed on the approach Axa are taking to the Act. If you have any further questions, or wish to discuss how AXA is implementing the Act, please don’t hesitate to get in touch with us via one of the following:
- Complete the form on the Homepage
- Fill in the form on our contact us page
- Email us at email@example.com
- Call 01637 876 876
We do everything we possibly can to check that we have got our facts straight, but it’s always possible that we could make a mistake (hopefully not or never would be better). Therefore we would like to make you aware that we accept no responsibility for information that may be factually incorrect or out of date, but we will do our best to make sure that all content is accurate. Our vision behind bringing the blog to the wider community is to keep our clients and prospective clients informed of their legal requirements, the different products on offer and how they may benefit your business and the new schemes we find which we think will benefit you.
We are Personal and Commercial Insurance Brokers based in Newquay covering the whole of Cornwall and the UK
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