CIPR 6.3.4 Additional disclosure on customers' request

A QFC insurance intermediary (including a QFC insurer that is acting as an insurance intermediary) must, if a customer so requests, disclose to the customer:

(a) all commissions and other economic benefits accruing to the intermediary, or another member of its corporate group, from business transacted for the customer; and
(b) any payment that the intermediary receives for providing to, or securing for, the customer any additional insurance-related services.

Guidance

Rule 6.3.4 does not apply to premiums, but does apply to fees (including any fees that an authorised firm charges if it receives no commission from an insurer in relation to a contract of insurance).

Derived from QFCRA RM/2019-2 (as from 1st January 2020).