11.2.1. General disclosure obligation

Prior to providing Insurance Intermediation to a Client, an Insurance Intermediary must disclose to that Client:

(a)       its name and address;

(b)       its regulatory status;

(c)       the name and address of the insurer or insurers effecting the Contract of Insurance;

(d)       if it has a direct or indirect holding representing 10% or more of the voting rights or capital in an insurer; or

(e)       if an insurer, or its parent undertaking, has a direct or indirect holding representing 10% or more of the voting rights or capital in the Insurance Intermediary;

(f)        contact details for notifying a claim under the Contract of Insurance; and

(g)       details of its complaints-handling procedure.

11.2.2. Disclosure of basis of advice

An Insurance Intermediary must, before providing Insurance Intermediation to a Retail Client, disclose whether:

(a)      it gives advice on the basis of a fair analysis of the market;

(b)       it has a contractual agreement with a particular insurer or insurers to offer only their Contracts of Insurance to Clients; or

(c)       even if there are no contractual agreements of the type referred to in (b), it does not give advice on the basis of a fair analysis of the market.

If (b) or (c) applies, the Insurance Intermediary must be prepared to provide a Retail Client on request with a list of insurers with whom it deals and may deal in relation to the relevant Contracts of Insurance.