Underinsurance & the Insurance Act 2015 - Remedies & Pitfalls Explained

Introduction

Underinsurance remains a widespread and persistent issue, with estimates suggesting that over 70% of buildings in the UK are inadequately insured.

This bitesized webinar delves into the potentially devastating consequences faced by policyholders who under-insure, as well as the various remedies insurers may deploy in response. Attendees will be guided through four distinct claim scenarios, each illustrating how different remedies may be applied depending on the circumstances.

This webinar is aimed at legal professionals, in-house counsel, and compliance teams within FCA-regulated insurance and financial services firms who advise on, manage, or assess insurance policies and claims risk.

What You Will Learn

This short webinar will cover the following:

• The concept of under-insurance, and the consequences for policyholders when faced with a substantial claim
• The different remedies that apply when policyholders under-insure - i.e. Average vs the remedies under the Insurance Act 2015 for breach of the duty of fair presentation
• The interplay between the different remedies in four different claim scenarios
• The key case of Infinity Reliance v Heath Crawford [2023], which was a stark reminder of the consequences, particularly for brokers, of getting the insured sums wrong

This pre-recorded webinar will be available to view from Wednesday 25th March 2026

Alternatively, you can gain access to this webinar and 2,101 others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.