Airmic members offered chance to debate Insurance Bill with experts

With the much-awaited Insurance Bill progressing through parliament, Airmic will be hosting a panel to discuss the reform and debate the implications of the changes for insurance buyers.

The Airmic Live event on 1 October will give Airmic members the chance to ask questions to experts including Law Commissioner David Hertzell and representatives from Herbert Smith Freehills, XL and RSA.

The Insurance Bill, designed to overhaul the outdated Marine Insurance Act, is progressing smoothly through the parliamentary process. It has completed its second reading in parliament and has been referred to a special public bill committee where it can be debated in more detail. It is expected to become law in the first half of 2015 followed by an 18 month transition period.

The Insurance Bill aims to correct draconian disclosure rules by providing proportionate remedies for innocent non-disclosure, as well as eliminating basis clauses which enable insurers to disclaim liability where there is an inaccuracy in the underwriting information, no matter how trivial. The Bill is the result of years of consultation and Airmic has strongly welcomed the reform.

The changes will impact the insurance buying process and the interactive Airmic Live event will give members a chance to voice any questions or concerns. Registration for Airmic Live: The Insurance Bill. The biggest change in UK insurance contract law in 108 years! is now available.

David Hertzell