Insurers To Refuse Claims For Companies Using Forced Labor

Law360, London (July 17, 2020, 1:18 PM BST) -- Underwriters said on Friday that they are backing a call to stamp out modern slavery and forced labor in supply chains linked to the companies that British insurers cover.

The International Underwriting Association said it is supporting a move to introduce new market clauses that will mean insurers cannot make claims on behalf of companies that make use of slave labor.

The clause, which was developed by members of the association and Lloyd's of London, the specialty insurance market, states that payments on claims must be conditional on policyholders having undertaken due diligence to comply with laws on forced labor and modern...

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