Pension trustee liability insurance

Global Publication January 2017

Are you ready for the changes introduced by the Insurance Act 2015?

The Insurance Act 2015 came into force on August 12, 2016, marking the most significant change in insurance law in over one hundred years. In an environment of increasing risk, it has become more important than ever for pension scheme trustees to understand the changing duties imposed on them when taking out insurance and to be aware of the remedies available to insurers if those duties are breached.

Our market-leading insurance practice has extensive experience in advising clients on the practical implications of the introduction of the Insurance Act, advising on the operation and extent of clients’ insurance cover and assisting them in the negotiation of policy wordings to avoid gaps in coverage.

We offer two products:


A fixed price report which will tell you whether a policy being offered to you is compliant with the requirements of the Insurance Act. The cost of ComplianceCheck will depend on the complexity of your insurance programme. We can provide a quote when we have this information.


The Insurance Act introduces a new duty for insureds to fairly present the risk to be insured to the insurer. We provide a report which will review:

  • What information you gather for disclosure purposes and whether this satisfies the new duty
  • The sources of that information and whether the knowledge of appropriate individuals is properly presented (e.g. senior management and your insurance buying function)
  • How the information is presented to your brokers and whether the broker’s knowledge is being appropriately considered and disclosed
  • Whether the information is presented in a way which is reasonably clear and accessible to the insurer.

The cost of DisclosureReview will depend upon the size of your business and how your insurance buying function is organised. We will be happy to quote once we have these details.

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