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Where an insurance policy included reinstatement value conditions and the insured had taken immediate steps to comply with the reinstatement conditions, the insured could rely on the clause as long as the insured was genuinely desirous of restarting the business but was unable to do so because of the insurer’s unjustifiable decision not to indemnify under the policy.
With the increasing influence of technology on the insurance industry, social media is beginning to play a vital role in many cases.
What do you believe will be the biggest challenge when the COFI framework is finally implemented?