COBS 7.10 COBS 7.10 Providing an Ongoing Service
COBS 7.10.1 Amendments to and Renewal of Insurance(a) An Insurer or Insurance Intermediary must deal promptly with a Client's request for an amendment to the insurance cover and provide the Client with full details of any premium or charges to be paid or returned.(b) An Insurer or Insurance Intermediary must provide a Client with written confirmation when the amendment is made and remit any return premium or charges due to the Client without delay.
An Insurer or Insurance Intermediary must give adequate advance notification to a Client of the renewal or expiration date of an existing insurance policy so as to allow the Client sufficient time to consider whether continuing cover is required.
On expiry or cancellation of the insurance, at the request of the Client, an Insurer or Insurance Intermediary must promptly make available all documentation and information to which the Client is entitled.
Where an Insurance Intermediary handles insurance claims it must:(a) on request, give the Client reasonable guidance, inform the Client of applicable procedures and provide the Client with the relevant forms in pursuing a claim under the relevant policy;(b) handle claims fairly and promptly and keep the Client informed of progress;(c) inform the Client in writing, with an explanation, if it is unable to deal with any part of a claim; and(d) forward settlement of any claim, as soon as reasonably practicable, once it has been agreed.
An Insurer must:(a) handle claims fairly and promptly;(b) keep the Client informed of the progress of the claim;(c) not reject a claim unreasonably;(d) if only part of a claim is accepted:(i) provide a clear statement about the part of the claim that is accepted; and(ii) give clear reasons for rejecting that part of the claim that has not been accepted; and(e) settle the claim promptly.