ASIC is consulting on its proposed Regulatory Guide and prescribed customer information for the deferred sales model for add-on insurance which will commence on 5 October 2021. Background.
The deferred sales model introduces a four-day pause between the sale of a principal product or service and the sale of an add-on insurance product.
The Regulatory Guide explains the scope of the deferred sales model, the obligations on add-on insurance providers and ASIC’s power to grant an individual exemption, and the content, form and communication of information that must be given to customers to start the deferral period.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
