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Status: You are viewing the version of the handbook as on 2005-06-30.

ICOB 4.7 Unsolicited services

ICOB 4.7.1R
  1. (1)

    Subject to ICOB 4.7.2 R, an insurance intermediary or an insurer must not:12

    1. (a)

      supply a service to a retail customer without a prior request on his part, when the supply of such service includes a request for immediate or deferred payment; or2

    2. (b)

      enforce any obligation against a retail customer in the event of unsolicited supplies of such services, the absence of a reply not constituting consent.2

  2. (2)

    Paragraph (1) applies in relation to insurance mediation activities and insurance business, in relation to non-investment insurance contracts under an organised distance sales or service provision scheme run by the firm or by an intermediary, who, for the purpose of that supply, makes exclusive use of one or more means of distance communication up to and including the time at which the services are supplied.2

ICOB 4.7.2R

ICOB 4.7.1 R does not apply for a tacit renewal of a distance contract.1

ICOB 4.7.3G

The prohibition in ICOB 4.7.1 R includes the continuation of insurance after a specified period where the insurance has been free of charge to the retail customer during that period unless the retail customer has agreed before the period expires to pay for the insurance once the period has expired.1