The Insurance Act 2015 came into effect on 12th August 2016. As the first real legislative change since The Marine Insurance Act 1906, this is an opportunity to further safeguard the rights of the public and, in many respects, it is.

However, one of the principles of the Act is that it places the onus of providing “a fair representation of the risk” squarely on the shoulders of the person or organisation requesting insurance.

So, what is “a fair representation of the risk” and, more importantly, how can an ordinary member of the public be expected to know what it is? A full answer to that question would take more time and space than is reasonable here so our best advice is to use an insurance broker who will ask you a lot of questions so that they have the information required to make “a fair representation of the risk” to insurers.

If you buy insurance on the internet, you act as your own broker and, with 25% of internet claims already failing, we can envisage the new Act increasing that percentage.