Product withdrawal requires insurers to give advance notice and preserve existing general insurance cover until each policy expires. Product withdrawal by an IIO requires notice to the Authority at least three months before the scheduled withdrawal date. An IIO conducting general ... Summary
Product withdrawal requires insurers to give advance notice and preserve existing general insurance cover until each policy expires.
Product withdrawal by an IIO requires notice to the Authority at least three months before the scheduled withdrawal date. An IIO conducting general insurance business must also give existing policyholders at least three months' notice before policy expiry. Policies already in force remain valid until their respective expiry dates.
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