Insurance Act 2015 and employee benefits – Aon Employee Benefits

A new Insurance Act that came into force on 12 August 2016 has significant implications for employers providing insured employee benefits, according to consultant Aon Employee Benefits. The Act introduces a new duty to present risk fairly to employees, replacing an old requirement to simply disclose risk.

Matthew Lawrence, Chief Broking Officer – health and benefits UK and EMEA at Aon Employee Benefits said:

‘We are concerned that there appears to be a general perception in the employee benefits world that the Insurance Act will not have a major impact on health and risk insurances.’