Key Changes Summary
Policywordingupdate
Periodicallyweconductreviewsofourproducts,toensurethattheyarealignedtomarketstandardsandcontinue toreflectyourneeds.
WehaverecentlyconductedareviewoftheLondonFlatsInsuranceYourResidentialFlatspolicyandthefindingsof thereviewhaveledustomakesomechangestotheproduct.
Thisdocumentdetailsthekeychangestoallavailablesectionsofthe LondonFlatsInsuranceYourResidentialFlats policy.Someofthesectionsmaynotbecoveredunderyourpolicy.Thesectionsofcoverthatapplytoyourpolicy areshownas‘insured’underyourcoversummarywhichisinyourschedule.
Thesechangesinclude:
1. changestosupporttheneedsofourcustomers.
2. improvementstothecustomerjourney
3. clarificationoftexttoimprovecustomerunderstanding.
4. enhancementstosomeareasofcover.
Pleaseensureyoureadthechangesbelowinconjunctionwithyournewpolicywordingandschedule. If thereisaconflictbetweenthebelowinformationandyourpolicy,thetermsofyourpolicy willapply.
Whatthismeansforyou
Yourpreviouspolicyandyournewpolicyhave differencesincover,conditionsandexclusionsbutoverall,thenew policyprovidescovermorealignedtotoday’scustomer’sneeds.
What’sdifferent
Thefollowinginformationdetailskeychangeswhichhaveanimpactonyourcover.
Generaldefinitions
Thedefinitionofemployedpersonhasbeenamendedandnowincludespeopleunderyourdirectcontrolor supervisionincluding
a. driversofplant
b. outworkers/homeworkers
c. prospectiveemployeesbeingassessedforemployment
d. personssecondedfromanoverseassubsidiaryorparent company
e. personsengagedincommunityserviceworkingundertheCriminalJusticeAct.
Generalconditions
WehavemadeitclearwhatwewilldoifyoudonotcomplywiththeGeneralconditions Forexample,wemay cancelyourpolicyorrefusetodealwithaclaim.
Claimsinformation
WehaveupdatedtheFalseandmisleadinginformationtoclarifytheactionswemaytakeifweidentifyfraud. This includestheoptionstocancelyourpolicy,refusetopayaclaimorinformthepolice,fraudpreventionagenciesand theInsuranceFraudRegister.
Specialbenefits–Section1–Insuredproperty
1. Arsonreward–wehaveclarifiedthatthemostthatwewillpayinrespectofanyoneeventforthis coveris£5,000.
2. Emergencyaccommodation–wehaveclarifiedthatthiscoveroperatesfollowingdamagefroman eventhappeningwithina1mileradiusofyourproperty.
Specialbenefits–Section3–Liabilitytoothers
1. MotorliabilityhasbeenretitledContingentmotorliabilities. Coverdoesnotapplyunlessthevehicle isbeingdrivenwithYourpermissionandyouhavetakenreasonablestepstoensurethatavalidlicence isheld. Coverdoesnotapplywherecoverisprovidedbyanotherinsurancepolicy.
2. StatutorydefencecostscoverhasbeenreplacedbySafetylegislationandManslaughtercostscovers.
a. Defencecostscoverwillnotendifaclaimissettledorwithdrawn
b. Wewillnotpayfordefencecostsifcoverisavailablefromanyothersourceorinsurance
c. Whereweprovideconsent,thiswillbeinwriting
d. Feesforinterventionarenotcovered
e. Safetylegislationcostscoverincludesthecoverforterrorismlegislation
Specialbenefits–Section4–Employers’liability
3. StatutorydefencecostscoverhasbeenreplacedbySafetylegislationandManslaughtercostscovers.
a. Defencecostscoverwillnotendifaclaimissettledorwithdrawn
b. Wewillnotpayfordefencecostsifcoverisavailablefromanyothersourceorinsurance
c. Whereweprovideconsent,thiswillbeinwriting
d. Feesforinterventionarenotcovered
e. Safetylegislationcostscoverincludesthecoverforterrorismlegislation.
Ifyouhaveanyquestionsaboutyourpolicy,whetherthatisintermsofcoverorpremium,pleasespeakto your brokerorinsurancerepresentative.Theywillbeabletogiveyoualltheinformationandadviceyouneedtomake anydecisionaboutthecoverrequired.
Pleasereadthecovers,conditionsandexclusionswithinyourscheduleandpolicywordingforfulldetails.