Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

COBS 13 Annex 1 Solvency II Directive Information1

This annex belongs to COBS 13.1.2 R (The Solvency II Directive information1)

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Information about the firm

(1)

The firm's name and its legal form;

(2)

The name of the state2 in which the head office and, where appropriate, agency or branch concluding the contract is situated;

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(3)

The address of the head office and, where appropriate, agency or branch concluding the contract; and1

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A concrete reference to the firm's SFCR allowing the policyholder easy access to this information.

Information about the commitment

(4)

Definition of each benefit and each option;

(5)

Term of the contract;

(6)

Means of terminating the contract;

(7)

Means of payment of premiums and duration of payments;

(8)

Means of calculation and distribution of bonuses;

(9)

Indication of surrender and paid-up values and the extent to which they are guaranteed;

(10)

Information on the premiums for each benefit, both main benefits and supplementary benefits, where appropriate;

(11)

For unit-linked policies, the1 definition of the units to which the benefits are linked;

(12)

Indication of the nature of the underlying assets for unit-linked policies;

(13)

Arrangements for application of the cancellation period or right to withdraw;1

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(14)

General information on the tax arrangements applicable to the type of policy;

(15)

The arrangements for handling complaints concerning contracts by policyholders, lives assured or beneficiaries1under contracts including, where1appropriate, the existence of a complaints body (usually the Financial Ombudsman Service)1, without prejudice to the right to take legal proceedings; and

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(16)

Law applicable to the contract where the parties do not have a free choice or, where the parties are free to choose the law applicable, the law the insurer proposes to choose.

[Note: article 185(2) and (3) of the Solvency II Directive1]

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