Insurance Broking Practice and the Law

Chapter 16



16-1 For contracts formed prior to 12 August 2016, the position at common law is that the insurer will not be liable where an insured makes a fraudulent claim. For contracts formed after 12 August 2016, this fraudulent claims rule has been codified by the Insurance Act 2015.1 Under either regime, the question of what amounts to a fraudulent claim is a matter for the courts. Where a claim has been fabricated or dishonestly brought about, or where an insured has fraudulently exaggerated its loss, the full claim is forfeit (even any genuine part).2 The consequences of making a fraudulent claim can therefore be very severe upon an insured.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, click Log In button.

Copyright © 2024 Maritime Insights & Intelligence Limited. Maritime Insights & Intelligence Limited is registered in England and Wales with company number 13831625 and address 5th Floor, 10 St Bride Street, London, EC4A 4AD, United Kingdom. Lloyd's List Intelligence is a trading name of Maritime Insights & Intelligence Limited.

Lloyd's is the registered trademark of the Society Incorporated by the Lloyd's Act 1871 by the name of Lloyd's.