• COBS 7.4 COBS 7.4 Client's Duty of Disclosure

    • COBS 7.4.1

      An Insurer or Insurance Intermediary must explain to a Client:

      (a) the Client's duty to disclose all circumstances material to the insurance both before the insurance commences and during the continuance of the policy; and
      (b) the consequence of any failure by the Client to make such disclosures.

    • COBS 7.4.2

      An Insurance Intermediary must explain to a Client that all answers or statements given on a proposal form, claim form or any other relevant document are the Client's own responsibility and that the Client is responsible for checking the accuracy of such information.

    • COBS 7.4.3

      If an Insurance Intermediary believes that any disclosure of material facts by a Client is not true, fair or complete, it must request the Client to make the necessary true, fair or complete disclosure, and if this is not forthcoming must consider declining to continue acting on that Client's behalf.