26th February 2021 Fact Sheet

Insurer Response to Modern Methods of Construction – The Issues

Building Insurance

The Insurance Act of 2015 clarified how a policy should be underwritten and set out the remedies of failure to do so. In order to help avoid an insurer refusing a claim on the basis of non-disclosure. The Act introduced the concept of a ‘Fair Presentation of Risk’. In effect it increased the onus on both the insurer and owner/managing agent to carry out the necessary investigations in order to allow underwriters to build a quote reflective of the true risk presented.

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