Back Custom print Link Text Only Rich Text Print

  • BC-2.1 BC-2.1 Overarching Principles

    • BC-2.1.1

      In the course of direct insurance activities, licensees must:

      (a) Act with due skill, care and diligence in all dealings with customers;
      (b) Act fairly and reasonably in all dealings with customers;
      (c) Identify customers' specific requirements in relation to the products and services about which they are enquiring;
      (d) Ensure that any advice to customers is aimed at the customers' interests and based on adequate standards of research and analysis;
      (e) Provide sufficient information to enable customers to make informed decisions when purchasing insurance products and services offered to them;
      (f) Provide sufficient and timely documentation to customers to confirm that their insurance arrangements are in place and provide all necessary information about their products, rights and responsibilities;
      (g) Maintain fair treatment of customers through the lifetime of their insurance products and customer relationships, and ensure that customers are kept informed of important events;
      (h) Handle claims fairly and promptly;
      (i) Ensure that all information provided to customers is clear, fair and not misleading, and appropriate to customers' information needs; and
      (j) Take appropriate measures to safeguard any money and property handled on behalf of customers and maintain confidentiality of customer information.
      Amended: January 2007
      Amended: October 2007