Home   Browse contents   View updates   Search  
     Quick search
Go
   

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Conduct of Business Module (COB) [VER33/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

BackText onlyPrint

You need the Flash plugin.

Download Macromedia Flash Player



  • COB 7.6 Disclosure of Costs and Remuneration

    • COB 7.6.1

      An InsurerG , Insurance IntermediaryG or Insurance ManagerG must provide details of the costs of each ContractG of InsuranceG or Insurance IntermediationG service or Insurance ManagementG service offered to a ClientG .

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

      • COB 7.6.1 Guidance

        1 The disclosure required by this Rule should include any premiums, fees, charges or taxes payable by the ClientG , whether or not these are payable to the Authorised FirmG .
        2 The disclosure should be made in terms readily understandable by the ClientG , taking into account the knowledge held by that ClientG in relation to the type of insurance in question.
        Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

    • COB 7.6.2

      An InsurerG or Insurance IntermediaryG must, where any premium is payable through a Credit FacilityG made available to a Retail ClientG , disclose any interest, profit rate or charges payable by the ClientG for using that facility.

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

    • COB 7.6.3

      An InsurerG , Insurance IntermediaryG or Insurance ManagerG must ensure that it does not impose any new costs, fees or charges without first disclosing the amount and the purpose of those charges to the ClientG .

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

    • COB 7.6.4

      (1) An InsurerG , Insurance IntermediaryG or Insurance ManagerG must, on the request of any ClientG , disclose to that ClientG all commissions and other economic benefits accruing to the Authorised FirmG or any member of the same GroupG from:
      (a) any Insurance IntermediationG business;
      (b) any Insurance ManagementG business; or
      (c) any other business connected to or related to the provision of such business;
      transacted by the Authorised Firm on behalf of that Client.
      (2) The requirement to disclose the information under (1) does not apply where an Insurance IntermediaryG acts solely on behalf of a single insurer, and this fact has been disclosed to the ClientG .
      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]