In February 2015, the Insurance Act 2015 received Royal Assent and will come into force in August 2016. This is one of the most significant changes to commercial law in over 100 years. But what does it really mean for Professional Insurance policy holders?
If you cut through all the legal jargon, the primary focus is for PI customers to disclose all the relevant facts about their business when they take out the policy, and keep good records. Our recent article Ten Tips for avoiding a PI claim gives further guidance on this.