Making sure your customers understand what they buy and the service they will receive is a key part of treating your customers fairly.

As a motor retailer we require you to give your customers:

  • details of the insurance product your customer buys from you (prepared by the insurance product provider); and
  • details of the service your firm offers when it sells insurance and the cost of this service.

On this page we provide a template and a tool for you to use to create your own document to give details about the service your firm offers.

Information about the service you offer

Whilst many of you will disclose information about the service you offer in your own terms of business, you have the choice to do this by using an initial disclosure document (IDD), which contains the information we require you to disclose.

If you want to include the key facts logo and Section 1 you must follow the set format. But you can amend the format if you don't include the logo and Section 1. A lot of firms like to use the logo as it is recognised by the industry and customers. It is already contained in the policy summaries issued by the product providers

You do not need to give your customers both a terms of business and an IDD, unless there are additional services you offer that aren't included in one alone. For example, if you hold client money, you would need to tell your customers about this in a separate terms of business letter. When deciding what to give your customers consider what format makes the information clear and understandable to them.

 
Templates for disclosure documents
You can download templates from this page to help you put together your disclosure documents. These are saved as Microsoft Word files that you can customise, making sure you take out the cross-references and square brackets. If you use these templates and want to include the logo and Section 1, you will need to complete them in line with the notes for completion.
Templates Notes for completion
Non-investment insurance initial disclosure document (IDD) [DOC] ICOB 4 Ann 1G [PDF]
Build your own disclosure documents

You can use our web tool to help you put together your disclosure documents if you don't include the logo and Section 1.

Build your own insurance IDD