Contract Certainty
A code of practice
What is Contract Certainty?
This is an industry agreed code of Practice which aims to protect the customer.
It does this by giving clarity around what is covered in an insurance agreement and what the Policyholder is required to do; in order to maintain their insurance cover.
What is Norwich Union doing about it?
Well, we have made a committment to follow the "Contract Certainty Code of Practice" by doing this at the same time to help you:
- We will ensure that our quotation and renewal invitations detail all terms, including any endorsements or 'subjectivities'. To help brokers explain the terms of the policy to their clients, we'll also continue to publish our policy wording on this site.
- We will provide you with an example letter containing subjectivity wording(s) for when you need to apply these conditions to personal lines quotation and policy documents.
- We will dispatch commercial contractual documentation no later than 21 days from inception and retail documents within 5 working days of inception.
- We have also provided a search tool on e-broking to help you find Policy and Endorsement wordings faster and easier, as well as the ability to list all the wordings applying to a particular by product.
What do I have to do?
We hope that you will support us by:
- Providing submissions (ie proposal forms) using the industry checklist published on the BIBA website
- Providing renewal terms in good time before renewal date
- Timely provision of additional information, where necessary
- Ensuring that you familiarise yourself with the use of subjectivity conditions, and remembering to provide a subjectivity letter if a quotation and/or cover is 'subject to' certain actions.
By working together we can make a difference to the service and certainty we provide to the end customer. This will benefit us all.
Further information can be found at the ABI website. However, if you would like to know what Norwich Union is doing to support Contract Certainty; please contact your account manager.
