Duty of fair presentation of the risk – who has knowledge of a company’s circumstances?
/As insurers start preparing for the implementation of the Contracts of Insurance Acts, underwriters, product teams and brokers will be considering how the new duties of disclosure will operate in practice. The new New Zealand non-consumer duty of fair presentation of risk is almost identical to the duty in the UK Insurance Act 2015, so decisions by Courts in England and Wales will be very persuasive in New Zealand.
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