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Underinsurance and the Insurance Act – Has anything changed?

A lack of relevant case law means it is still too early to say what impact the Insurance Act (2015) will have on cases of underinsurance. A spokesperson for law firm Herbert Smith Freehills LLP told us there was nothing yet to add to their advice of last year, which outlined the new range of “proportionate remedies” provided by the Act should the insured breach their duty of fair representation. Under the Act, the insured must make a "fair presentation of the risk" to the insurer. Previously the duty related to “disclosure and representations” and many key aspects of this have been retained. However, the big change has been that whereas previously the insurer's only remedy for breach of the

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