Swift MID policy cancellation advised as 'archaic' certificate rule is scrapped
Insurers have been advised to promptly update the Motor Insurance Database to avoid continuation of liability after the "archaic" rule requiring a motor insurance policyholder to return their certificate of insurance in the event of cancellation was abolished under the Deregulation Act 2015.
Prior to the Act, which came into force last week (30 June), if a motor policy was cancelled mid-term an insurer remained contractually liable to pay third party claims until it had reclaimed the
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