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renewal

      1. (1) (except in ICOBS 6B, SUP 16.28 and SUP 16 Annex 49BG)206 carrying forward a contract, at the point of expiry and as a successive or separate operation of the same nature as the preceding contract, between the same contractual parties.
      1. (2) (in ICOBS 6B, SUP 16.28 and SUP 16 Annex 49BG) the entry by a customer into a general insurance contract which:
        1. (a) is of the same product type as that customer’s existing general insurance contract;
        1. (b) is obtained from the same firm (including an insurer, insurance intermediary or managing agent) as that customer’s existing general insurance contract;
        1. (c) will take effect following the termination or expiry of the customer’s existing general insurance contract; and208
        1. (d) is entered:208
          1. (i) in response to a renewal notice sent by the firm; or208
          1. (ii) in response to any other offer, proposal or recommendation made to, or encouragement of, the customer by the firm in the knowledge that it is dealing with an existing customer of the firm; or208
          1. (iii) via the same intermediary who arranged the customer’s existing general insurance contract.208
          For the avoidance of doubt, (d)(ii) applies where a firm:208
          1. (A) knows that a customer holds an existing general insurance contract with the firm; and208
          1. (B) acting on that knowledge, offers or proposes, or recommends or encourages the customer to consider purchasing:208
          1. (a) a different product of the same product type; or208
          1. (b) a product of the same product type via a different channel.208