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What are the most common problems with insurance policies?

April 26, 2017common Insurance policies problems

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What are the most common problems with insurance policies?

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Failure to make full disclosure of all material facts when taking out a policy and failure to promptly notify possible claims are perennial problems. Any party taking out insurance should always carefully consider the policy wording to check that it is adequate for purpose. Policies are all too often unclearly or inconsistently worded and may contain exclusions which limit their usefulness.