The insurance product is to meet the identified needs, objectives and characteristics of the target market.
Manufacturers shall test their insurance products appropriately, and where relevant this will include scenario analyses. The testing should be conducted before bringing the product to the market or significantly adapting it, or if the target market has significantly changed. The product testing is to assess whether the insurance product over its lifetime meets the identified needs, objectives and characteristics of the target market.
Manufacturers shall not bring insurance products to the market if the results of the product testing show that the products do not meet the identified needs, objectives and characteristics of the target market.
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