The COVID-19 pandemic has highlighted the dangers when insurance policy terms are ambiguous. Few business interruption policies were designed to specifically take account of a pandemic but some wordings suggest they might.
With the FCA having noted that customer's expectations of their policy may not meet the policy coverage, many brokers will be looking at the advice they provided to their clients in the past. Those same clients will now be asking their brokers for advice on the policy terms and assistance in making claims. How do you ensure that you provide a good service to them while also being alive to the possibility of a claim or regulatory criticism? In this session we look at possible problems and their solutions for brokers including:
- Develop an understanding of the duties of advice resting on a broker when advising a client at policy inception;
- Considering duties of advice for a broker when advising on coverage;
- Agreed housekeeping techniques and policies for brokers.
Speakers - Alisdair Matheson and Jo Kelbrick