COB 7.11 COB 7.11 Providing an Ongoing Service
Amendments to and Renewal of Insurance
COB 7.11.1(1) An
Insureror Insurance Intermediarymust deal promptly with a Client'srequest for an amendment to the insurance cover and provide the Clientwith full details of any premium or charges to be paid or returned.(2) An Insureror Insurance Intermediarymust provide a Clientwith written confirmation when the amendment is made and remit any return premium or charges due to the Clientwithout delay.
Insureror Insurance Intermediarymust give adequate advance notification to a Clientof the renewal or expiration date of an existing insurance policy so as to allow the Clientsufficient time to consider whether continuing cover is required.
On expiry or cancellation of the insurance, at the request of the
Client, an Insureror Insurance Intermediarymust promptly make available all documentation and information to which the Clientis entitled.
Insurance Intermediaryhandles insurance claims it must:(a) on request, give the Clientreasonable guidance in pursuing a claim under the relevant policy;(b) handle claims fairly and promptly and keep the Clientinformed of progress;(c) inform the Clientin writing, with an explanation, if it is unable to deal with any part of a claim; and(d) forward settlement of any claim, as soon as reasonably practicable, once it has been agreed.
Insurermust:(a) handle claims fairly and promptly;(b) keep the Clientinformed of the progress of the claim;(c) not reject a claim unreasonably;(d) if only part of a claim is accepted:(i) provide a clear statement about the part of the claim that is accepted; and(ii) give clear reasons for rejecting that part of the claim that has not been accepted; and(e) settle the claim promptly.