How contract conditions can change the liability of an insured and why brokers must advise clients on this (1)

How contract conditions can change the liability of an insured and why brokers must advise clients on this.

Many policyholders sign contracts without realising they are potentially exposing themselves to liabilities that are not covered by their insurances. Often these contracts are signed in order to either win business or obtain key supplies, either way they are extending their liability beyond the potential protection provided by the liability insurer.

Alan Chandler, one of the most popular presenters in the UK, will explore what Public and Products liability policies normally cover and what the position is at law when the policyholder extends their liability beyond this by signing certain contracts.

The webinar will include exploring the consequences of the Insurance Act 2015 for failing to make a fair presentation of risk with regards to contract conditions, and how failure to guide policyholders around this matter could lead to a claim being turned down and all cover cancelled.

Learning Objectives

The presentation will enable the delegates to:

• Understand how a policyholder can extend their liability by signing certain contracts.
• Understand how contractual liability may not be covered by the policyholder’s liability insurances.
• Understand how the Insurance Act 2015 applies to contract conditions and ensuring that full discussion takes place with the underwriter to avoid losing all policy coverage.