Airmic unveils new 90-day reservation of rights clause
The industry has backed a clause created by risk management association Airmic which gives insurers a 90-day cooling off period to freely exchange information with the policyholder before resorting to the reservation of rights.
It is hoped that the move will reduce legal costs and improve clarity in the claims process and, unlike the 2008 clause, it is legally binding once inserted into insurance contracts and affects all
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