Background to Disclosure requirements
All insurance Contracts are based on the Principle that all parties will act with Utmost Good Faith in all their dealings. This is recognised at law and reinforces the reason that “Your Duty of Disclosure “is required to be stated here and in the Policy Wording.
Our Duty of Disclosure
We at Landcover are obligated by the Insurance Industry’s Code of Practice to be honest, efficient, fair, transparent and timely in dealing with you, our customer.
We ensure that our staff and those representing us are appropriately trained and have sufficient product knowledge to conduct themselves professionally in all aspects of the services we provide.
Your Duty of Disclosure
You, when applying for Landcover Insurance are obligated to comply with what the Insurance Industry and the Insurance Contract Act 1984 refers to as “Your Duty Of Disclosure”.
Landcover, in arranging this insurance policy, acts on behalf of the Insurer and as such you need to tell us everything that you know or could be reasonably expected to know that is relevant to our acceptance of your Landcover Insurance Application.
Now you do not need to tell us anything that will reduce the insurance risk, that is common knowledge or is already something that we should know.
We must point out though, failure to comply or in the event of any non-disclosure by you that is found to be fraudulent may result in your Insurer cancelling your policy or reducing their liability in respect of claim.
Please, if you do not understand your Duty of Disclosure, ask us to explain it to you.