Miller has produced a document which provides an overview of the key changes that will be introduced by the Act. This includes the impact on the following:

• The existing duty of disclosure and move to a duty of ‘fair presentation’
• Remedies available to insurers
• Warranties
• ‘Basis of contract’ clauses
• Terms not relevant to the actual loss
• Fraudulent claims

Please note that the Act applies to both insurance and reinsurance contracts – where ‘insurer’ and ‘insured’ are mentioned in the bulletin, the Act applies to ‘reinsurer’ and ‘reinsured’ in the same context as appropriate.