Common use of Duty of Fair Presentation Clause in Contracts

Duty of Fair Presentation. 9.1 You are responsible for informing Your clients that under the Insurance Xxx 0000, they are required, before a new business, mid-term or renewal contract is concluded, to disclose without material misrepresentation and in a clear and accessible manner:  every material circumstance (as defined by the Act) they know, or ought to know, that would influence the judgement of an insurer in deciding whether to insure the risk and on what terms; or  sufficient information to put an insurer on notice that it needs to make further enquiries about potentially material circumstances. 9.2 You should also explain to Your clients how the Act defines what the insured knows or ought to know about the risk. 9.3 Your clients should maintain records of the names and roles they have consulted to demonstrate reasonable searches and enquiries have been made of all relevant matters that could influence an insurer’s view of the risk. 9.4 You are responsible for working with Your clients to understand their business activities and to share any relevant knowledge to ensure the insurer is given a fair presentation of the risk. 9.5 Material facts must be disclosed at the earliest opportunity. Should a breach of duty of pre-contractual disclosure occur, the insurer is required to ensure their response is proportionate in accordance with the provisions of the Insurance Xxx 0000. 9.6 We reserve the right to reject an inadequate presentation of the risk.

Duty of Fair Presentation. 9.1 You are responsible for informing Your clients that under the Insurance Xxx 0000, they are required, before a new business, mid-term or renewal contract is concluded, to disclose without material misrepresentation and in a clear and accessible manner:  every material circumstance (as defined by the Act) they know, or ought to know, that would influence the judgement of an insurer in deciding whether to insure the risk and on what terms; or  sufficient information to put an insurer on notice that it needs to make further enquiries about potentially material circumstances. 9.2 You should also explain to Your clients how the Act defines what the insured knows or ought to know about the risk. 9.3 You should advise Your clients should to maintain records of the names and roles they have consulted to demonstrate reasonable searches and enquiries have been made of all relevant matters that could influence an insurer’s view of the risk. 9.4 You are responsible for working with Your clients to understand their business activities and to share any relevant knowledge to ensure the insurer is given a fair presentation of the risk. 9.5 Material facts must be disclosed at the earliest opportunity. Should a breach of duty of pre-contractual disclosure occur, the insurer is required to ensure their response is proportionate in accordance with the provisions of the Insurance Xxx 0000. 9.6 We reserve the right to reject an inadequate presentation of the risk.

Duty of Fair Presentation. 9.1 You are responsible for informing Your clients that under the Insurance Xxx 0000, they are required, before a new business, mid-term or renewal contract is concluded, to disclose without material misrepresentation and in a clear and accessible manner:  § every material circumstance (as defined by the Act) they know, or ought to know, that would influence the judgement of an insurer in deciding whether to insure the risk and on what terms; or  § sufficient information to put an insurer on notice that it needs to make further enquiries about potentially material circumstances. 9.2 You should also explain to Your clients how the Act defines what the insured knows or ought to know about the risk. 9.3 You should advise Your clients should to maintain records of the names and roles they have consulted to demonstrate reasonable searches and enquiries have been made of all relevant matters that could influence an insurer’s view of the risk. 9.4 You are responsible for working with Your clients to understand their business activities and to share any relevant knowledge to ensure the insurer is given a fair presentation of the risk. 9.5 Material facts must be disclosed at the earliest opportunity. Should a breach of duty of pre-contractual disclosure occur, the insurer is required to ensure their response is proportionate in accordance with the provisions of the Insurance Xxx 0000. 9.6 We reserve the right to reject an inadequate presentation of the risk.

Duty of Fair Presentation. 9.1 You are responsible for informing Your clients that under the Insurance Xxx 0000, they are required, before a new business, mid-term or renewal contract is concluded, to disclose without material misrepresentation and in a clear and accessible manner:  ▪ every material circumstance (as defined by the Act) they know, or ought to know, that would influence the judgement of an insurer in deciding whether to insure the risk and on what terms; or  ▪ sufficient information to put an insurer on notice that it needs to make further enquiries about potentially material circumstances. 9.2 You should also explain to Your clients how the Act defines what the insured knows or ought to know about the risk. 9.3 You should advise Your clients should to maintain records of the names and roles they have consulted to demonstrate reasonable searches and enquiries have been made of all relevant matters that could influence an insurer’s view of the risk. 9.4 You are responsible for working with Your clients to understand their business activities and to share any relevant knowledge to ensure the insurer is given a fair presentation of the risk. 9.5 Material facts must be disclosed at the earliest opportunity. Should a breach of duty of pre-contractual disclosure occur, the insurer is required to ensure their response is proportionate in accordance with the provisions of the Insurance Xxx 0000. 9.6 We reserve the right to reject an inadequate presentation of the risk.