Commercial policy wording must be “watertight”
The wording of commercial insurance policies must be “fully watertight” to ensure claims are met, law firm O’Connors has said.
The comments come in response to the Mactavish/PwC report published yesterday, which warned that commercial insurance is currently "not fit for purpose" and could lead to a rise in claims disputes.
Ac
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Commercial
Mike Crane joins Axa Commercial as SME and specialty director
Mike Crane, formerly managing director of LV Broker, has been appointed as Axa Commercial’s SME and specialty director.
Lloyd's Neal calls CrowdStrike 'warning shot' to insurers
John Neal, CEO of Lloyd’s of London, has described the CrowdStrike outage as a “warning shot” for insurers on the importance of cyber resilience.
Five-year UK cyber attack costs hit £44bn
Howden research has found that more than half (52%) of UK businesses have suffered at least one cyber attack in the past five years, equating to £44bn of lost revenue.
Commercial insurers should be ‘just as ambitious’ as retail with tech
Joe Diss, director of claims analytics at Arch Insurance Services has urged commercial insurers to up their ambitions when it comes to technology.
Bloomberg forecasts fines will cause surge in cyber cover demand
Demand for cyber insurance is set to grow amid a spate of high-profile attacks and fines for accidental leaks, according to a market report from Bloomberg Intelligence.
ABI’s Gurga urges regulators to slash red tape
Hannah Gurga, director general of the Association of British Insurers, has urged the government and regulators to grab Alexander the Great’s sword and slash through the Gordian knot of regulation.
Close Brothers to seek consent to pay premium finance commission
From next week, Close Brothers will seek consent from commercial customers for the payment of broker commissions for premium finance.
Allianz Commercial MD Nadia Côté departs
Insurance Post can reveal that managing director of Allianz Commercial Nadia Côté is leaving the insurer with immediate effect.