Regulatory Alerts2021-10-21
Guidance on Disclosure under the AIR Code
The Guernsey Financial Services Commission issued this guidance to address compliance difficulties with written disclosure requirements for general insurance intermediaries. It permits licensees and authorized representatives to provide mandatory written disclosures after advice or policy inception when immediate telephone arrangements make prior disclosure impractical. This exemption applies exclusively to general insurance products, while long-term product providers must strictly adhere to the original timing requirements of the Rules and Code.
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