Insurance intermediary conduct requires transparent advice, confidentiality, conflict controls, and timely claims support across insurance distribution services. Insurance intermediaries must maintain integrity, competence, confidentiality, fair dealing and compliance with applicable insurance laws. Brokers must ... Summary
Insurance intermediary conduct requires transparent advice, confidentiality, conflict controls, and timely claims support across insurance distribution services.
Insurance intermediaries must maintain integrity, competence, confidentiality, fair dealing and compliance with applicable insurance laws. Brokers must provide suitable advice, secure required mandates and know-your-customer documents, ensure complete risk disclosure, explain policy and claims terms, issue timely documentation and renewal communications, assist with claims, and operate complaint systems. Reinsurance brokers require written authority and transparent placement processes. Third-party administrators must protect data, manage grievances, support cashless claims and control fraud. Surveyors must remain impartial and avoid conflicts. Corporate agents must ensure trained personnel, truthful sales practices, post-sale support and compliant complaint handling.
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