The Insurance Bill: What brokers need to know
Terry Renouf, partner at law firm BLM, picks out some key points from the Insurance Bill, and outlines some of the details brokers need to know about.
"The successful third reading of the Insurance Bill in the Lords on 15 January 2015 means that the detail of the first substantial reform to commercial insurance in a century is now clear.
"These changes need to be understood and discussed by all industry participants, underwriters, brokers and policyholders."
Scope and commencement"The Bill now moves to the House of Commons where it will complete its legislative passage. After Royal Assent, the new law will apply to commercial policies
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