Completing This Proposal Form
You may be aware that the Insurance Act 2015 makes various significant changes to insurance contract law. The Act applies to all non-consumer contracts (and some provisions also apply to consumer policies) subject to English law entered into (and all mid-term adjustments agreed) on or after 12 August 2016 and amongst other things, replaced the duty of disclosure for non-consumers with a duty to make a fair presentation of the risk. The new duty retains the core element of the existing duty of good faith but introduces some new clarifications regarding what is known by an insured and the format of disclosure. We set out below a summary of the new duty.
Duty of Fair Presentation
You are required to make a fair presentation of the risk to Insurers which discloses every material circumstance which you know or ought to know relating to the risk to be insured. This includes information known by your senior management and those responsible for arranging your insurance as well as information which would reasonably have been revealed by a reasonable search of information available to you. A circumstance is material if it would influence the judgment of a prudent insurer in determining whether to provide insurance for the risk and, if so, on what terms. Disclosure must be reasonably clear and accessible to a prudent insurer. Material representations of fact must be substantially correct and material representations of expectation/belief must be made in good faith. Failure to comply with the duty of fair presentation could mean that the policy is void or that Insurers are not liable to pay all or part of your claim(s). If you are in any doubt as to what may constitute a fair presentation, please feel free to contact us and we will endeavor to assist you.
Any insurance issued following completion of this proposal is subject to the policy terms and a specimen policy is available on request, from Gallagher.
Please answer all questions leaving no blank spaces. The form must be signed by the Principal or a Partner or a Director of the business. If you have a brochure about your Business Operations please forward it with this application.
No cover is in force until Gallagher have issued a quotation which has been accepted and Gallagher have confirmed that the policy has been effected.
Gallagher is the trading name of Arthur J. Gallagher Insurance Brokers Limited. We are the data controller of any personal information you provide to us or personal information that has been provided to us by a third party. We collect and process information about you in order to arrange insurance policies and to process claims. Your information is also used for business purposes such as fraud prevention and detection and financial management. This may involve sharing your information with third parties such as insurers, reinsurers, other brokers, claims handlers, loss adjusters, credit reference agencies, service providers, professional advisors, our regulators, police and government agencies or fraud prevention agencies.