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ICOBS 4.3 Fee disclosure

  1. (1)

    A firm must provide its customer with details of the amount of any fees other than premium monies for an insurance mediation activity.

  2. (2)

    The details must be given before the customer incurs liability to pay the fee, or before conclusion of the contract, whichever is earlier.

  3. (3)

    To the extent that an actual fee cannot be given, a firm must give the basis for calculation.


The fee disclosure requirement extends to all such fees that may be charged during the life of a policy.