Duty of Fair Presentation. You must be sure that the information you have given to us to pass onto the insurers is a ‘‘fair presentation’‘ of the risk. This means that you must have clearly disclosed every material circumstance which you, your senior management, or persons responsible for arranging your insurance knows or ought to know following a reasonable search. A material circumstance is one which may influence an insurers’ judgement over whether to take the risk, and if so on what terms. If you are in doubt as to whether a circumstance is material, then you should disclose it. Furthermore, you must inform us if any of the information provided to us has changed. If it has, then you must tell us about the changes before we arrange cover. Your duty to notify material changes in the risk applies when you purchase an insurance policy, throughout the life of the policy and when you renew that policy. Please note that failure to disclose a material circumstance may entitle an Insurer to impose different terms on your cover or reduce the amount of a claim payable. In some cases, your cover could be invalidated, which would mean that a claim would not be paid.
Duty of Fair Presentation. You must make a fair presentation of the risk (as set out in the Insurance Act 2015 or successor or amending legislation) in proposing for, or proposing to vary, this insurance.
Duty of Fair Presentation remedies for breach - proposing for this insurance If you or anyone acting on your behalf breaches your duty of fair presentation then our remedies shall be as follows:
Duty of Fair Presentation remedies for breach - variation If you or anyone acting on your behalf breaches your duty of fair presentation in relation to a variation of this policy, our remedies shall be as follows:
Duty of Fair Presentation remedies for breach – variation If the insured or anyone acting on its behalf breaches the insured’s duty of fair presentation in relation to a variation of this policy, the insurer’s remedies shall be as follows:
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.
Duty of Fair Presentation. In order to fulfil our collective duty with you to provide the insurer with a fair presentation of the insurance risk involved, you must disclose every material circumstance which you know or ought to know, or failing that, you must provide the insurer with sufficient information to put a prudent insurer on notice that it needs to make further enquiries for the purpose of revealing those material circumstances. A ‘material circumstance’ is one which would influence the judgement of a prudent insurer in determining whether to take the risk and if so on what terms and it is our collective duty to carry out a reasonable search in respect of these circumstances. Examples of such circumstances could be any ongoing serious medical conditions such as cancer and heart conditions as well as planned medical treatment. Please note these examples are for illustrative purposes only and are by no means exhaustive or conclusive. It is important that you understand that any information, statements or answers made by you to us or the insurers are your responsibility and must be correct. Any failure to disclose material circumstances to the insurer or any inaccuracies in your answers may invalidate your insurance cover in part or whole. Please note that not only does this apply at the commencement or renewal of your policy but also at any time during the lifetime of your policy. You should therefore advise us as soon as reasonably practical of any changes in your circumstances (including changes of address) which may affect our service to you or the cover provided under your policy. This should include any changes to scheme membership (if relevant).
Duty of Fair Presentation. NOTE: The provisions of this clause vary the provisions of Schedule 1 of the Insurance Xxx 0000 ‘Insurers’ Remedies for Qualifying Breaches’. Where:
Duty of Fair Presentation. 3.1. Your attention is drawn to the accompanying Duty of Disclosure and Fair Presentation document which sets out a number of your obligations. In addition, the below sets out further obligations which apply to all services that we provide to you when arranging your insurance cover.
Duty of Fair Presentation. 6.1 It is your duty to disclose to insurers, all information, facts and circumstances which are, or ought to be, known to you and which are material to the risk and to do so in a reasonably clear and accessible manner. This duty arises when you take out and renew insurance, and when you vary an existing policy. A material circumstance is one that a prudent underwriter would consider influential in determining whether or not to provide cover, if so on what terms and what price to charge for the cover. It is likely that any changes to facts previously advised will be material and such changes should therefore be notified. A fact should not be regarded as immaterial merely because it is not the subject of a question on a proposal form and your duty is not limited to answering the specific questions that insurers or we ask you. For example, an un-notified claim is likely to be a material fact to be disclosed. If in any doubt as to whether information is material, you should disclose it, as failure to do so could prejudice your right to recover in the event of a claim or allow underwriters to apply additional terms or even to avoid the policy from inception and treat it as if it had never existed. You should also ensure that all the information you provide to us is correct. Your attention is specifically drawn, and we ask you to read carefully, the separate “The Duty of Disclosure and Fair Presentation” document, which sets out in further detail your duty to disclose all material circumstances. If having read the above and that document you think we need any further information, or if you have any questions, please let us know.
