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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > Business Standards > BC Business and Market Conduct > BC-2 The Insurance Code of Practice > BC-2.12 Information Conditions > BC-2.12.1
  • BC-2.12 Information Conditions

    • BC-2.12.1

      Licensees must ensure that all information presented to customersG in accordance with this Code shall be clear, fair and not misleading, and comprehensible to the customerG having regard to the complexity of the products and services being offered and the customer'sG knowledge.

    • BC-2.12.2

      Licensees must ensure that customerG information presented to customersG in accordance with this Code is provided in an appropriate format with regard to the complexity of the product being discussed. In particular:

      (a) As a general rule, all information to be provided to the customerG in accordance with this Code is to be in writing, on paper or other durable medium available and accessible to the customerG . If the information is initially presented orally, supporting written information must be provided in addition;
      (b) In the case of telephone selling and other forms of selling where it is impractical to provide information to the customerG in writing at the point of sale, information shall be provided to the customerG in accordance with Subparagraph BC-2.12.2(a) immediately following conclusion of the contract; and
      (c) By way of derogation from Subparagraph BC-2.12.2(a), information may be provided orally without supporting written information where the customerG requests it, or where immediate cover is necessary.
      Amended: January 2007

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