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The Insurance Act: End of  Data Dumping?

One of the biggest changes for Risk Managers in the wake of the Insurance Act 2015 coming into force in August 2016 is a new responsibility for interpreting as well as collating risk data.

Topics: risk management data management duty of fair presentation insurance act compliance

The Insurance Act: A New Dawn for Risk Management

With the new UK Insurance Act coming into force August 2016 and applying to all insurance placed in the UK market, it is vital that companies act now in order to get their ‘houses in order.’ It is certainly a case of ‘fail to prepare, prepare to fail’ when it comes implementing the right systems and processes now required.

Topics: risk management duty of fair presentation insurance act compliance

The Insurance Act: Do you know your DoD from your DoFP?

The UK Insurance Act 2015 comes into force in August 2016 – but how many Risk Managers recognise the significant impact on day-to-day operations? Duty of Disclosure (DoD) is so ingrained in daily processes for Risk Managers there is the assumption that Duty of Fair Presentation (DoFP) may not be that different – this is a misunderstanding which should be remedied sooner rather than later.

Topics: risk management duty of fair presentation insurance act

New Guide: Preparing for the Insurance Act 2015- Make sure you're ready

With the UK Insurance Act coming into force in August 2016, have you considered the full practical implications of complying with the new act?

Our new guide “Preparing for the Insurance Act 2015: Make sure you’re ready” looks to provide valuable insight and guidance into the changes outlined in the new insurance act and how you and your origination can prepare for them.

By downloading and reading this guide, you will receive:

  • A breakdown of the changes from the old Duty of Disclosure (DoD) to the new Duty of Fair Presentation (DoFP) and information on how you can comply with the requirements of the DoFP.
  • A clear definition of ‘reasonable search’ and details on how you can demonstrate a clear audit trail prior to market presentation
  • An understanding of how technology can help in categorising and assembling reliable data for presentation to the insurance market
  • A breakdown of the consequences of failure to comply with the Insurance Act
  • Information on the global impact, the act doesn’t only affect the UK
  • Details on how a Risk Management Information System can aid with complying with the Insurance Act 2015
Topics: risk management duty of fair presentation insurance act