(Source: Eversheds LLP) Construction and engineering - Articles 15-10-2015 Insurance Act 2015 - changes to an insured party's duty of disclosure Under the existing law - which remains effective until the provisions of the Insurance Act 2015 come into force in August 2016 - an insured party owes a duty of good faith and full disclosure. A representation of fact to the insurer must be 'substantially correct' and a representation of expectation/belief must be made in good faith. The Insurance Act 2015 seeks to provide a greater level of clarity regarding these duties. The main changes are as follows: 1) Methods of disclosure The insured must disclose all relevant circumstances that would...
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