Skip to main content

Article 11 Publicity and Advertisement

IA-BOD-RES 3/2010 Effective from 21/3/2010

When 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:

  1. 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.
     
  2. The information provided to the public must be accurate, factual and consistent with the law and technical rules.
     
  3. 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.
     
  4. The advertisement or publication may not include any untrue promises or create a impression of benefits and advantages that are incompatible with the reality.
     
  5. 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.
     
  6. The advertisement or publication must be compatible, in content, with the content of the Policy scheduled to be offered in the market.
     
  7. The advertisement or publication may not contain any false information concerning the financial position of the Company providing an inaccurate impression to the Clients.