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28 Mar 2016 ... ICONS 5.2 Statement of demands and needs ... (1). An insurance intermediary in relation to any policy (other than a connected travel insurance contract);1 and. (2). An insurer when
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Individuals seeking insurance: People who are looking to obtain insurance coverage or avail themselves of insurance-related services may need to fill out icobs 5 2 as part of the application or enrollment process.
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Insurance companies and their agents: Insurance providers and their agents are responsible for ensuring compliance with industry regulations and requirements. Therefore, they may need to fill out icobs 5 2 when dealing with customers, policies, or claims.
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icobs 5 2 refers to the Conduct of Business Sourcebook (COBS) 5.2, which sets out requirements for firms to ensure fair treatment of customers in a variety of business activities.
Firms in the financial services industry, such as banks, insurance companies, and investment firms, are required to comply with icobs 5 2.
Firms can fill out icobs 5 2 by reviewing the requirements outlined in the COBS 5.2 sourcebook and implementing the necessary policies and procedures.
The purpose of icobs 5 2 is to ensure that firms treat their customers fairly and provide them with clear and accurate information.
Firms must report on their compliance with the requirements of COBS 5.2, including how they are treating customers fairly and providing appropriate information.
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