S.L. 487.6 Art. 4Requirements applicable to authorised undertakings appointing exempt ancillary insurance intermediaries.

(1) An authorised insurance undertaking, an enrolled insurance agent or an enrolled insurance broker which has appointed and registered an ancillary insurance intermediary which, pursuant to regulation 3, is exempted from the requirement of enrolment in terms of article 43E of the Act, shall require such ancillary insurance intermediary to comply with the following requirements:

(a) make information available to the client, prior to the conclusion of the contract of insurance, about its identity and address, and about the procedures allowing clients and other interested parties to lodge complaints and the arrangements for handling complaints concerning contracts of insurance by such undertaking, agent or broker;

(b) have appropriate and proportionate arrangements in place to comply with information and conduct of business requirements set out in the applicable Conduct of Business Rules, and to consider the demands and needs of the client before the proposal of the contract; and

(c) provide to the client, prior to the conclusion of the contract of insurance, the insurance product information document, referred to in Conduct of Business Rules.

(2) The provisions of article 43E(11) of the Act shall apply mutatis mutandis to an authorised insurance undertaking, an enrolled insurance agent and an enrolled insurance broker which has appointed and registered an ancillary insurance intermediary exempt from enrolment pursuant to regulation 3.