This article outlines how Insurance contracts within the UK are set to change, with the laws that govern these agreements undergoing legislative reform. The implications of this change will be felt by all firms operating within the glass and glazing market. Therefore, as policy holders, it is imperative for firms to be aware of their new duties in relation to this act. The Act heralds new responsibilities for those purchasing commercial insurance or making any amendments to existing policies on or after 12 August, 2016. The business will have a duty to make a "fair presentation of risk" to insurers. In simple terms, this will include: Disclosure of all the material facts that you know about the risk to be insured, including information you are expected, or ought to know; Provide sufficient information to put an insurer on notice that it may need to make further enquiries. The Act includes an obligation that you, the insured, ensure any information you provide is correct to the best of your knowledge and that you have conducted a reasonable search for such information. And, if other people within your business hold important information about the insurance risk, you are required to check with them.
