Clients are often unaware that criminal convictions are a material fact that must be disclosed. It is “the duty of the policyholder to disclose material facts that could affect the policy”
There are insurance issues for:
• Anyone with a criminal conviction.
• Bankrupts and those with adverse credit history
This is because the Insurer may either:
• Refuse them Insurance or
• Restrict cover, including Public Liability and Employers Liability cover, (which is a requirement by Law), as well as cover for their business premises and equipment .
This may create difficulties for clients entering self employment or starting a business.
When Insurance is bought via the internet or call centres, staff that may not know the importance of disclosing a criminal record.
Internet or call centre policies are often offered at low rates without checking on convictions. Insurers take on risks that are invalidated when claims occur and the conviction is brought to light.
Neil Cook and his team at Equity and General are specialists in this area and have organised special terms for those with a Criminal record.
They have already helped a number of Startup Clients.
To find out more:
Contact Neil Cook - Head of Specialist Risks Here