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It can be confusing when it comes to both consumer (personal) and non-consumer (business) insurance as to what you are required to disclose, and when and why it is important to do so correctly and sufficiently.
- Background
- Brokers’ Duties
- Decision
- Comment
The claimant company manufactured and erected exhibition stands, and was owned jointly by a husband and wife. The cover which the defendant broker arranged for the claimant included a policy of Commercial Combined insurance, underwritten by the same Insurers for the years 2010/2011, 2011/2012 and 2012/2013. In August 2012, the claimant made a claim...
At the commencement of his analysis, the judge summarised the law relating to the duties of brokers, insofar as it was relevant to the issues in the case. His summary was taken from two cases: Jones v Environcom Limited (2010) and Synergy Health (UK) Limited (2011), best surmised in Environcom as being “the broker should take reasonable steps to en...
On the trial of preliminary issues, the court considered: (1) whether the broker had been told about the convictions; and (2) whether the broker had been in breach of its duty to take steps to draw to the claimant’s attention the importance of making necessary disclosure. The judge was not persuaded on the evidence that the claimant had disclosed t...
This case summarises and reaffirms a broker’s duty to advise an insured regarding the duty of disclosure, as set out in Environcom and Synergy. However, the judgment places the need to consider the application of those authorities within the fact specific nature of the claim; they cannot just be relied upon by claimants as authorities for hard and ...
Dec 15, 2023 · We’ll go into the details of what sellers or estate agents are required to disclose, including things like the property information form and the safeguards provided by laws against unfair trade. When going through the home-buying process, it is important to know what options you have in case of incomplete disclosure.
May 23, 2023 · The key difference is that life insurance is designed to cover the policyholder for a specific term, while life assurance usually covers the policyholder for their entire life.
- Death in the Home. Some buyers have concerns or superstitions about purchasing a home in which someone has died. Disclosure might be required. "Each state will have slightly different requirements for disclosure," said Jim Olenbush, a Texas real estate broker.
- Neighborhood Nuisances. A nuisance is often a noise or odor from a source outside the property that could irritate the property’s occupants. North Carolina requires sellers to disclose noises, odors, smoke, or other nuisances from commercial, industrial, or military sources that affect the property.
- Hazards. If the home is at an increased risk of damage from a natural disaster or has known or potential environmental contamination, you may be required to disclose this information to the buyer.
- Homeowners' Association Information. If the home is governed by a homeowners' association (HOA), you should disclose that fact. Associations generally impose monthly fees on homeowners, and they can impose rules on their membership that a prospective buyer might or might not find acceptable.
Mar 6, 2019 · The duty to disclose in insurance contracts arises automatically by law. For the non-disclosure to be legally relevant it must be material.
People also ask
What disclosures do sellers and estate agents need to disclose?
What is a seller's disclosure?
Do you have a duty of disclosure when renewing a policy?
Do I need to disclose my insurance?
Term life insurance is a type of insurance policy that covers you for a fixed period or ‘term’ of years. For example, if you take out a fixed-term life insurance policy that covers you for 50 years and you die within that time frame, then your beneficiaries will receive a cash lump sum.
