Book traversal links for Article 11 Publicity and Advertisement
Article 11 Publicity and Advertisement
IA-BOD-RES 3/2010 Effective from 21/3/2010When issuing an advertisement, publication, statement or declaration targeting the public or any segment thereof directly or indirectly, the Company shall adhere to honesty, truth and objectivity including:
- Prior to publishing an advertisement in the media or through direct communication with the Clients with respect to a certain insurance policy or scheme, the Company shall forward such Policy or scheme to the IA. Where a legal violation or a deviation form technical rules is ascertained, the IA may request the Company to make the required amendment.
IA approval or non-objection to the terms and conditions will not affect the rights and obligations of any party to a contractual arrangement, and shall not be used as evidence before the Judiciary to prove the legality of any party's position.
- The information provided to the public must be accurate, factual and consistent with the law and technical rules.
- In case the information includes statistical figures, such figures must be accurate and presented in a sound technical manner along with the sources thereof. If derived from a certain source, such source shall be indicated.
- The advertisement or publication may not include any untrue promises or create a impression of benefits and advantages that are incompatible with the reality.
- If the advertisement or publication contains special prices of the coverage, such prices must be clear, with as statement whether they are inclusive or exclusive of duties and taxes, if any.
- The advertisement or publication must be compatible, in content, with the content of the Policy scheduled to be offered in the market.
- The advertisement or publication may not contain any false information concerning the financial position of the Company providing an inaccurate impression to the Clients.