(1) An Insurer, in Effecting Contracts of Insurance, must promptly document the principal economic and coverage terms and conditions agreed upon under any Contract of Insurance and finalise such contract in a timely manner.
(2) An Insurer, Insurance Intermediary or Insurance Manager must, as soon as reasonably practicable, provide a Client with written confirmation and details of the insurance which it has effected for the Client or has obtained on behalf of the Client, including any changes to an existing Contract of Insurance.
(3) An Insurer, Insurance Intermediary or Insurance Manager must, as soon as reasonably practicable, provide the Client with the full policy documentation where this was not included with the confirmation of cover.
(4) In (2) and (3), a Client of an Insurance Manager is any Policyholder with whom the Insurance Manager interacts when carrying on its Insurance Management activities.
Derived from DFSA
(Made 1st July 2008). [VER14/07-08]
[Amended] DFSA RM97/2012
(Made 24th July 2012) [VER20/07-12]
[Amended] DFSA RM182/2016
(Made 19th June 2016) [VER27/08-16]