Power hour: Modernising the industry


What are the proposals around the possible Insurance Contracts Act in 2015?

Neil: The fundamental intent is to modernise insurance law and give the purchaser of insurance a greater degree of comfort around duty of disclosure, the basis of contract, and how warranties would operate across the insurance contract, in addition to a better insight and level of understanding about how insurers will deal with the issue of fraud. This flows from the contract law review, the Consumer Insurance Act in 2