GEN 2.19.1

Past version: effective up to 30/11/2005
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(1) In GEN Rule 2.2.2Insurance Broking means:
(a) advising on insurance;
(b) acting as agent for another Person in relation to the buying of insurance for that other Person; or
(c) making arrangements with a view to another Person, whether as principal or agent, buying insurance.
(2) In (1)(a) 'advising' means giving advice which is given to a Person in his capacity as a policyholder or potential policyholder, or in his capacity as agent for a policyholder or potential policyholder on the merits of his entering into a Contract of Insurance whether as principal or agent.
(3) In (2) 'advice' includes a statement, opinion or report:
(a) where the intention is to influence a Person, in making a decision, to select a particular Contract of Insurance or insurance cover; or
(b) which could reasonably be regarded as being intended to have such influence.
(4) The arrangements in (1)(c) include arrangements which do not bring about the transaction.

Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]