Preparing for the Insurance Act 2015

With the Insurance Act 2015 coming into force later this year many brokers are getting to grips with what the Act could mean for them and their customers. This has been a key theme at our regional conferences and broker masterclasses with questions, in particular, around ‘duty of disclosure’. We're making changes to our online trading platform, Fast Trade to help, including introduction of a ‘Fair presentation of risk guarantee’ and simplifying our policy wordings - making our Residential Property Owners and Self Employed wordings Insurance Act compliant ahead of the Act coming into force.

With many brokers trading online this brings added complexity to the process of a customer and ultimately you, the broker, providing insurers with all the information they need to underwrite an application. We want to help make this as simple as possible.

To do this, we’ve introduced a ‘Fair presentation of risk guarantee’, which means that provided you answer our online questions and assumptions accurately, we will accept that as a fair presentation of the risk. Meaning we can provide a consistent and timely approach to assessing your customers’ risks

We’re also making changes to our policy wording on Fast Trade making it much more straightforward to navigate and understand. Our new simpler design incorporates:

  • inner limits shown up front in the customers schedule
  • clearly laid out covers showing what your customers do and don’t have cover for (using ticks and crosses to indicate this)
  • where customer obligations/policy conditions exist these are either detailed in the policy schedule or clearly highlighted in the policy with yellow warning triangles (not hidden in the ‘small print’)
  • we’ve made the wording easier to navigate, so when viewed online you can click between sections making it easier to find specific areas.
  • definitions will appear when you hover over certain words and where possible we’ve simplified the language and terminology we use.


We updated the wording for our Commercial Property Owners product last year and are now launching this new approach for Residential Property Owners and Self-employed tradesman cover from Monday 14 March. Other Fast Trade products will follow suit in the coming months.


You can access Fast Trade via the following link:



As we run up to August we’ll keep you in the loop with further updates and enhancements relating to the Insurance Act, but if you have any questions in the meantime, please get in touch with your usual Aviva sales manager or underwriting contact.

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