11.6.1. Adequate information

An Insurance Intermediary must provide adequate information in good time and in a comprehensible form to enable a Client to make an informed decision about whether or not to enter a Contract of Insurance or a Takaful Contract proposed by the Insurance Intermediary.

11.6.2. Policy summary

An Insurance Intermediary must provide a Retail Client with a policy summary explaining the terms of the Contract of Insurance or the Takaful Contract:

(a)       the name of the insurer;

(b)       type of insurance and cover;

(c)       significant features and benefits;

(d)       significant or unusual exclusions or limitations;

(e)       applicable period of cover;

(f)        a statement, where relevant, that the consumer may need to review and update the cover periodically to ensure it remains adequate;

(g)       the procedure for handling complaints; and

(h)       contact details for notifying a claim.