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ICOB 6.3 Notification of cancellation by the retail customer

ICOB 6.3.1R

A retail customer who has a right to cancel under ICOB 6.2.1 R may, without giving any reason, cancel the contract by serving notice upon the insurer, its appointed representative or any agent of the insurer with authority to accept notice on the insurer's behalf before expiry of the relevant cancellation period, in accordance with the practical instructions given to him in accordance with ICOB 5.3.12 R.

ICOB 6.3.2R

Where the notice of cancellation is in a durable medium and served in accordance with ICOB 6.3.1 R, it must be treated as being served on the insurer on the date it is despatched by the retail customer.

ICOB 6.3.3G

In the event of any dispute, unless there is clear written evidence to the contrary, an insurer should treat the date cited by the retail customer as being the date when the notice of cancellation was given, posted or otherwise sent.

ICOB 6.3.4G

In order to ensure that a retail customer returns to the insurer any insurance certificate that the insurer may provide as part of the non-investment insurance contract (for example, the motor insurance certificate), the insurer may wish to consider putting the notice of cancellation on the insurance certificate itself and instructing the retail customer, prior to the conclusion of the contract in accordance with ICOB 5.3.12 R(2)(d), to exercise this right of cancellation by returning the certificate. Unless these instructions are given to the retail customer in accordance with ICOB 5, an insurer will not be able to require cancellation to be exercised in this way.