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ECO 1.3 Provision of insurance services

ECO 1.3.1R

ECO 1.2.1 R(Requirement to provide essential information) does not apply to an insurer with respect to insurance business where the activity:

  1. (1)

    is carried out by an insurer which has received official authorisation in accordance with article 6 of the First Life Directive or the First Non-Life Directive; and

  2. (2)

    falls within the scope of the Insurance Directives;

but instead such an insurer must comply with the provisions of COB set out in the Table in ECO 1.3.3 R when it deals with a UK ECA recipient.

ECO 1.3.2G

The insurance derogation set out in the Annex to the E-Commerce Directive allows the United Kingdom, as a Host State, to continue to apply its own local rules to an insurer, where the latter is providing an electronic commerce activity to a UK ECA recipient, in circumstances where these Host State rules fall within the scope of any of the Insurance Directives. Against this background, the FSA believes it is appropriate that certain of the requirements of COB 3 (Financial promotion) and COB 6 (Product disclosure and the customer's right to cancel or withdraw) should continue to apply to the provision of these services.

ECO 1.3.3R

Provision of insurance services. This table belongs to ECO 1.3.1 R

The following provisions (of COB):


COB 3 (entire chapter)

Financial promotion

COB 6.1

Packaged product and ISA disclosure

COB 6.2.2 R to COB 6.2.24R1


Provision of key features or simplified prospectus1

COB 6.4

Product disclosure: special situations

COB 6.5 (except COB 6.5.40 R (1)(b), COB 6.5.47 R, COB 6.5.48 G and COB 6.5.49 R)

Content of key features

COB 6.6


ECO 1.3.4G

The COB rules set out in ECO 1.3.3 R do not include COB rules that implement mandatory provisions from the Insurance Directives, such as those provisions in Annex II to the Third Life Directive, as these fall outside the scope of the insurance derogation in the E-Commerce Directive and must be implemented by an incoming ECA provider'scountry of origin.

ECO 1.3.5R

Any information provided by an incoming ECA provider that is an insurer to a UK ECA recipient must be provided in English.