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May 23, 2016, The Law Society Gazette
Alex Leitch, Carlo Kostka, and Richard Mattick participated in a roundtable with The Law Society Gazette regarding the UK Insurance Act 2015. Leitch, pointing at “fair presentation,” a grey area in the new legislation, said a policyholder will want to make sure that they have “discharged the duty of giving a fair presentation of the risk which is going to be underwritten.”
According to Kostka, a question will be in the mind of any corporate client: “Is it sufficient for a public company to say that the material risks of the business are those which are publicly disclosed in the annual report?”
Mattick added, “I presume the perceived vulnerabilities will mean that [brokers] may be trying to tie down their relationship with the policyholders much more closely, and perhaps introduce limitations that might not have been there before.”