05 April 2013

Posted by Discount Insurance on Friday, April 05, 2013 No comments
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Brits will be given extra protection by the Consumer Insurance Act about to come into effect.

Brits are about to receive extra legal protection on their insurance as the Consumer Insurance Act (CIA) comes into force tomorrow (April 6th).

CIA is designed to protect the rights of policyholders who inadvertently miss out important information in disclosures to their insurers - a response to some customers being refused payouts because they did not disclose facts for which the provider had not asked.

Under the new law, insurers are legally obliged to ask specific questions about all the information they need at the point where the policy is sold.

Because insurers should have all relevant data as a result, only consumers who have deliberately or carelessly deceived their insurers will see their claims denied.

All forms of personal insurance are covered by the legislation, which will apply regardless of whether the policyholder applies online, in person or by telephone.

The Act will also apply to insurance renewals, meaning that policyholders will have a duty to double check their renewals and inform their insurers of any changes or previously omitted information.

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Sarah Parkin

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