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Article (11)

IA-BOD-RES 18/2020 Effective from 27/4/2020
  1. The Company shall illustrate its website with a description of the nature of the products that the company sells and markets electronically, and with self-assessment tools which enable the Insurance Proposer to assess his insurance needs, and eventually enable him to make an informed decision to conclude the contract.
  2. The Company is committed to draw the attention of the Insurance Proposer to the following information in a timely manner during the purchase process and before concluding the contract:
    1. Nature of the product countering the insurance risk.
    2. Main benefits of the product.
    3. Options of the insurance product and the insurance coverage.
    4. Exclusions of coverage and restriction of the product.
    5. If there are waiting periods for specific covers.
    6. Total premiums, VAT and any other expenses, in an accurate and clear manner.
    7. Warning the Insurance Proposer of the consequences of providing incorrect data and information.
    8. Showing the outcome of cancelling the contract, in particular the manner premium refunds are calculated.
    9. Informing the Insurance Proposer about the importance of acquiring insurance consultancy from a licensed and registered Insurance Consultant.