It is a requirement under the Consumer Protection Code 2012 that the terms and conditions attaching to a product or service, on paper or on another durable medium, must be provided to the consumer before the consumer enters into a contract for that product or service.
The Central Bank of Ireland clarified that “they considered that the terms and conditions (T&C’s) of a product would generally be generic and not consumer specific, and therefore can be provided to the consumer before he/she enters into a contract.
If this is not the case, and the T&C’s are in fact amended to reflect the consumer’s circumstances, then the regulated entity should provide the generic version as required by Provision 4.22 and the consumer specific version after the consumer has entered into the contract.” These T&C’s can be provided in either hardcopy or email format.
Be aware of your obligations imposed by the Provision of Information requirements under the Consumer Protection Code and Life Disclosure Regulations 2001, and Insurance Distribution Regulations. When renewing a general insurance risk, and whether renewing with existing provider, or moving to another provider, intermediaries must ensure they have complied with the requirements of the Non-Life Insurance (Provision of Information) (Renewal of Policy of Insurance) (Amendment) Regulations 2018.
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