Consumer Insurance Law PDF
By:Great Britain. Law Commission,Scottish Law Commission
Published on 2009 by The Stationery Office
This joint report recommends clarification of the law about the information which a consumer should tell an insurer when taking out a policy. It includes draft legislation to replace the current law which is more than 100 years old and was designed for ship owners insuring large vessels rather than today's consumer insurance market. Under that statute, insurers can refuse to pay out if a policyholder failed to disclose any relevant information, even if the consumer answered all questions that were asked honestly and reasonably. The draft Bill appended to the report will clarify a raft of existing rules and guidance employed by insurers, the Financial Services Authority and the Financial Ombudsman Service. Under the recommendations: insurers must ask questions about any matter which they wish to know in order to assess the risk being insured; consumers who take reasonable care to answer insurers' questions fully and accurately can expect to have any subsequent claims paid in full; if a consumer makes a careless mistake when answering a question, he or she might still be entitled to have some of the claim paid. The Commissions' recommendations follow a detailed consultation exercise - started with a discussion paper |Insurance contract law| (2007, LCCP 182/SLCDP 134, ISBN 9780117037823) - which found widespread support for the proposed changes from major insurers, insurance brokers and lawyers as well as consumer groups.
This Book was ranked at 36 by Google Books for keyword Insurance Law.
Book ID of Consumer Insurance Law's Books is EgxaTeTpeQ8C, Book which was written byGreat Britain. Law Commission,Scottish Law Commissionhave ETAG "QPu4WEd52q0"
Book which was published by The Stationery Office since 2009 have ISBNs, ISBN 13 Code is 9780101775823 and ISBN 10 Code is 0101775822
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Book which have "192 Pages" is Printed at BOOK under CategoryBusiness and Economics
Book was written in en
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