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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

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  • COB 7.11 Providing an Ongoing Service

    • Amendments to and Renewal of Insurance

      • COB 7.11.1

        (1) An InsurerG or Insurance IntermediaryG must deal promptly with a Client'sG request for an amendment to the insurance cover and provide the ClientG with full details of any premium or charges to be paid or returned.
        (2) An InsurerG or Insurance IntermediaryG must provide a ClientG with written confirmation when the amendment is made and remit any return premium or charges due to the ClientG without delay.
        Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

      • COB 7.11.2

        An InsurerG or Insurance IntermediaryG must give adequate advance notification to a ClientG of the renewal or expiration date of an existing insurance policy so as to allow the ClientG sufficient time to consider whether continuing cover is required.

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

      • COB 7.11.3

        On expiry or cancellation of the insurance, at the request of the ClientG , an InsurerG or Insurance IntermediaryG must promptly make available all documentation and information to which the ClientG is entitled.

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

    • Claims

      • COB 7.11.4

        Where an Insurance IntermediaryG handles insurance claims it must:

        (a) on request, give the ClientG reasonable guidance in pursuing a claim under the relevant policy;
        (b) handle claims fairly and promptly and keep the ClientG informed of progress;
        (c) inform the ClientG in 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.
        Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

      • COB 7.11.5

        An InsurerG must:

        (a) handle claims fairly and promptly;
        (b) keep the ClientG informed 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.
        Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]