Consumer

Your Responsibility To Provide Information

You must take reasonable care to answer all questions honestly and to the best of Your knowledge, and if You volunteer any other information, You must ensure that the information is not misleading. If any information that You have provided to us changes before You take out Your insurance, during the life of the policy or at renewal, You must inform us of the change. If You deliberately, recklessly or carelessly misrepresent any information in relation to this insurance then Your policy may be cancelled without refund, or treated as if it never existed, or Your claim rejected or not fully paid.

Commercial

Your Responsibility to Provide Information (Duty of Fair Presentation of Risk)

You have a duty under the Insurance Act 2015 to make a fair presentation of the risk to insurers. This duty applies when You take out Your insurance cover, throughout the life of Your policy, and when You renew Your insurance.This duty includes a need for You to undertake a reasonable search for material information which is known, or ought reasonably to be known, by anyone playing a significant role in making business decisions in Your business (such as Your company’s principals, directors, senior management or shareholders) and staff responsible for arranging or administering Your firm’s insurance. You should advise Us of any particular concerns which led You to seek insurance cover and any special or unusual facts relating to the risk. You must ensure that all material statements of fact are substantially correct and not misleading, and any material information which is a matter of expectation or belief (eg. an estimate or forecast) is provided in good faith. Failure to disclose any material information or change in circumstances to Your insurers which could influence the cost, or their decision to accept Your insurance, could mean that Your policy could be invalidated or cancelled without refund, or that part or all of a claim may be not be paid. ‘Material Information or changes in circumstances’ could include Your inability to comply with any conditions or warranties applicable to Your policy, which should be notified to Us immediately. ‘Material statements’ and ‘material information’ are information which could influence the judgement of a prudent insurer in determining whether to take on a risk and on what terms.