CeMAP Services has produced sample forms to aid advisers with the ICOB regulation and is already taking enquiries from its subscribers. The forms are available to download under the ‘sample forms’ link on the website www.cemapservices.com.
There are three forms available at the moment, they include: sample statement of demands and need – household insurance; sales processes under ICOB requirements; and general insurance factfind.
Gordon Benville, head of CeMAP Services at ifs, explained that its specialists would give appropriate guidance to every individual based on the collective expertise of ifs and the Council of Mortgage Lenders (CML).
He added: “Many of our members do not have time to wade through the ICOB handbook in order to complete a single form, this is where we can help. The sample forms available on the website offer our members the opportunity to have the forms pre-checked by our compliance specialists before they are submitted to the regulator, saving them a lot of time and effort. Anyone who sells or advises on insurance would benefit from this service.”
Daniel Kern, senior mortgage consultant at Regent Cavendish, said: “There is still a degree of uncertainty with general insurance regulation in the industry so anything that helps with compliance has to be a useful tool.”
