Abstract
This chapter examines the terms and impact of the UK Insurance Act 2015. It refashions the pre-contract duty of assureds and makes significant changes to the principle of good faith and to the remedies available to insurers in the event of breach of duty by assureds. The position of placing brokers at the pre-contract stage has also been modified. One effect of the reforms is to imposed on insurers greater responsibility for acquiring material information relating to the proposed risk. Another effect, derived from the abolition of avoidance as the sole remedy available, has been the establishment of a more balanced and fairer legal regime. The draconian aspects of the former law have been cast aside. This development has also established a platform for the wider application of the principle of good faith in the relation between assureds and insurers. At the same time, it has to be recognised that the potential impact of the 2015 Act has been diluted by the subordination of all but a few of its provisions to the contrary will of the parties.
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