Module BC (Business Conduct) comprises general rules (BC-1) and a Code of Practice (BC-2). These rules apply in full to captive insurers. However, it should be noted that BC is principles-based. Because a captive insurer is insuring the risks of its parent group, it would be acceptable for the level of sales documentation and written disclosure to be less than would be required for retail customers. The BMA considers this to be compatible and consistent with maintaining a professional insurer-insured relationship between the parties.