• COBS 7.5 COBS 7.5 Authorised Person's Duty of Disclosure

    • COBS 7.5.1

      An Insurer or Insurance Intermediary must disclose to a Client:

      (a) the name and address of the insurer or insurers effecting the Contract of Insurance;
      (b) its own name and address where different; and
      (c) contact details of the Person to whom a claim is to be notified.

    • COBS 7.5.2

      The disclosures in Rule 7.5.1 must be made before effecting or placing the Contract of Insurance, or as soon as reasonably practicable thereafter.

    • COBS 7.5.3

      An Insurance Intermediary must, before providing any Insurance Intermediation service to a Person as a Retail Client, disclose whether any advice or information is or will:

      (a) be provided on the basis of a fair analysis of the market;
      (b) not be provided on the basis of a fair analysis of the market because of any contractual agreement it has with any particular insurer or insurers to deal with only their products; or
      (c) even if there are no contractual agreements of the type referred to in Rule 7.5.3(b), not be provided on the basis of a fair analysis of the market.

    • COBS 7.5.4

      If Rule 7.5.3(b) or 7.5.3(c) applies, the Insurance Intermediary must, if requested by the Retail Client, provide to that Client a list of insurers with whom it deals or may deal in relation to the relevant Contracts of Insurance.

    • COBS 7.5.5

      An Insurance Intermediary must, before providing any Insurance Intermediation service to a Client, disclose to that Client whether it acts on behalf of an insurer or any other Person or acts independently on behalf of Clients.

    • COBS 7.5.6

      An Insurance Intermediary must not represent itself as providing advice or information on the basis of a fair analysis of the market unless it has considered a sufficiently broad range of Contracts of Insurance and based its decision on an adequate analysis of those contracts.