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The objective of Paragraph BC-2.5.1 is to ensure that a customerG is provided with sufficient information with which to make an informed decision. An insurance firmG is able to rely on the customer'sG explanation of his insurance needs and is not otherwise required to verify the customer'sG own assessment of his needs. Given the customer'sG stated needs, the insurance firmG must explain how the proposed contract(s) would meet those needs, and provide sufficient information regarding the different options so that the customerG is able to make an informed decision.

Amended: January 2007
(2 Versions)
Up to Jun 30 2007Jul 1 2007 onwards
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