Insurance Act 2015 (UK)

The Insurance Act 2015 is a UK law that modernizes and clarifies insurance contracts. It aims to ensure fairness between insurers and policyholders. Key changes mean insurers must be more transparent about policy terms and how they assess risk. Policyholders have a duty to provide accurate information, but the law protects them against being penalized for minor non-disclosures. The act also strengthens rights for policyholders in claims and clarifies remedies if insurers fail to meet their obligations. Overall, it seeks to create a more balanced and equitable relationship in the insurance industry.