Sheffield broker provides guide to help SMEs understand the new Insurance Act

28th June 2016

Sheffield broker IFM Insurance based on Tapton House Road has launched a new guide for SMEs to help understand the new Insurance Act, which comes into force on 12 August 2016.

The Insurance Act 2015 will introduce the most significant changes to UK insurance contract laws in over 100 years. The Act will apply to all insurance policies in England and Wales, Scotland and Northern Ireland, which incept, renew or are varied from that date. One of the key aims of the Act is to ensure better exchange of information between insurers, brokers and customers, which should reduce the number of disputes, avoid disruption for both insurers and customers and increase confidence in the UK insurance sector. IFM's guide provides local firms with an overview of the Act including a 'duty of fair presentation', which clarifies what local firms must disclose to an insurer and what an insurer ought to know about the business which it insures. The guide can be obtained by going to http://www.ifminsurance.co.uk/news or calling IFM on 0114 2684606.

You might also be interested in

Sheffield Chamber of Commerce: Spending Review Briefing

Mon 23rd June 2025

Responding to the recent Spending Review, Tracy Viner, Executive Manager (Policy and Public Impact) at Sheffield Chamber of Commerce said:

Price Pressures Persist for Business

Wed 18th June 2025

Responding to the latest inflation data, published by the ONS this morning, David Bharier, Head of Research at the British Chambers of Commerce said:

What’s a Sheffield snooker hall owner doing going to an “AI for Health” innovation event in Bochum, Germany?

Wed 18th June 2025

This year marks the 75th anniversary of the twinning between Sheffield and Bochum, Germany.

US Tariff Relief For Automotives And Jet Engines

Tue 17th June 2025

Reacting to news that the US President has signed an Executive Order on the trade deal with the UK, William Bain, BCC Head of Trade Policy, said: