Related provisions for ICOBS 2.1.3
1 - 3 of 3 items.
1Different provisions in this sourcebook may apply depending on the type of person with whom a firm is dealing:(1) A policyholder includes anyone who, upon the occurrence of the contingency insured against, is entitled to make a claim directly to the insurance undertaking.(2) Only a policyholder or a prospective policyholder who makes the arrangements preparatory to him concluding a contract of insurance (directly or through an agent) is a customer. In this sourcebook, customers
A firm should bear in mind the restriction on rejecting claims (ICOBS 8.1.1R (3)). Ways of ensuring a customer knows what he must disclose include:4(1) explaining to a commercial customer4 the duty to disclose all circumstances material to a policy, what needs to be disclosed, and the consequences of any failure to make such a disclosure; 4(2) ensuring that the commercial customer4 is asked clear questions about any matter material to the insurance undertaking;444(3) explaining