Related provisions for ICOBS 2.1.2

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ICOBS 2.1.1GRP
1Different provisions in this sourcebook may apply depending on the type of person with whom a firm is dealing:(1) A policyholder includes anyone who, upon the occurrence of the contingency insured against, is entitled to make a claim directly to the insurance undertaking.(2) Only a policyholder or a prospective policyholder who makes the arrangements preparatory to him concluding a contract of insurance (directly or through an agent) is a customer. In this sourcebook, customers
ICOBS 2.1.3GRP
2(1) Except where paragraph (2) applies, if a customer is acting in the capacity of both a consumer and a commercial customer in relation to a particular contract of insurance, the customer is a commercial customer.2(2) For the purposes of ICOBS 5.1.4 G and ICOBS 8.1.2 R, if, in relation to a particular contract of insurance, the customer entered into it mainly for purposes unrelated to his trade or profession, the customer is a consumer.2
ICOBS 2.1.4GRP
In practice, private individuals may act in a number of capacities. The following table sets out a number of examples of how an individual acting in certain capacities should, in the FCA's view, be categorised.Customer classification examplesCapacityClassificationPersonal representatives, including executors, unless they are acting in a professional capacity, for example, a solicitor acting as executor.ConsumerPrivate individuals acting in personal or other family circumstances,
ICOBS 1.1.4GRP
Guidance on the application provisions is in ICOBS 1 Annex 1 (Part 4).
ICOBS 5.1.4GRP
A firm should bear in mind the restriction on rejecting claims (ICOBS 8.1.1R (3)). Ways of ensuring a customer knows what he must disclose include:4(1) explaining to a commercial customer4 the duty to disclose all circumstances material to a policy, what needs to be disclosed, and the consequences of any failure to make such a disclosure; 4(2) ensuring that the commercial customer4 is asked clear questions about any matter material to the insurance undertaking;444(3) explaining