Biba seeks insurer meetings after publishing disclosure advice
The British Insurance Brokers’ Association has launched cross industry guidance that it hopes will reduce misunderstandings over what should have been disclosed when cover was taken out - which in some cases will cause a claim to be repudiated or reduced.
The guidance, titled A Clearer Approach to Disclosure, aims to introduce clarity and certainty to the information underwriters are seeking.
By asking these important questions in a consistent and unambiguous way, Biba said the purpose “is to eliminate as far as possible room for dispute when a claim is presented – this works in both directions – to the advantage of both customers and insurers”.
The document has been produced as a result of collaboration by Biba’s Insurance Brokers’ Standards
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