Common use of Duty to Give Information Clause in Contracts

Duty to Give Information. 11.1. (Consumers) 11.2. (Commercial Clients) You have a duty under the Insurance Act 2015 to make a fair presentation of the risk to your insurer in accordance with the law. This duty applies when you take out your insurance cover, when any changes are made to your policy mid-term and when you renew your insurance. A fair presentation is disclosure of risk information in a manner that is reasonably clear and accessible; including every material fact, which is known or ought to be known by an insured’s senior management, or those responsible for arranging the insurance, following a reasonable search. If you do not make a fair presentation of risk to us and fail to advise us of any inaccuracies or omissions your policy may not protect you in the event of a claim. The insurer may at their option: ◾ Declare your policy void (treating your policy as if had never existed) ◾ Change the terms of your policy. ◾ Reduce the amount of any claims payments.

Duty to Give Information. 11.110.1. (Consumers) 11.210.2. (Commercial Clients) You have a duty under the Insurance Act 2015 to make a fair presentation of the risk to your insurer in accordance with the law. This duty applies when you take out your insurance cover, when any changes are made to your policy mid-term and when you renew your insurance. A fair presentation is disclosure of risk information in a manner that is reasonably clear and accessible; including every material fact, which is known or ought to be known by an insured’s senior management, or those responsible for arranging the insurance, following a reasonable search. If you do not make a fair presentation of risk to us and fail to advise us of any inaccuracies or omissions your policy may not protect you in the event of a claim. The insurer may at their option: ◾ Declare your policy void (treating your policy as if had never existed) ◾ Change the terms of your policy. ◾ Reduce the amount of any claims payments.