Experts advise brokers to prepare for the Insurance Act
The Act has received Royal Assent and will become law in autumn 2016.
The Insurance Act has received Royal Assent and will come into force in autumn 2016 after an 18-month referral period.
Legal experts have advised brokers and insurers to start preparing sooner rather than later.
Nick Young, partner at DAC Beachcroft, told Insurance Age: "The work for brokers will be mainly around understanding the Act before it becomes law and to make sure they have the right systems in place.
"They need to invest the time now to make sure they are compliant with the new rules."
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