- CHAPTER III > SECTION 3
Article number: 17
1. For the purposes of Article 30(1) and (2) of Directive (EU) 2016/97, the necessary information to be obtained by insurance intermediaries and insurance undertakings with regard to the customer's or potential customer's knowledge and experience in the relevant investment field shall include, where relevant, the following, to the extent appropriate to the nature of the customer, and the nature and type of product or service offered or demanded, including their complexity and the risks involved:
(a) the types of service, transaction, insurance-based investment product or financial instrument with which the customer or potential customer is familiar;
(b) the nature, number, value and frequency of the customer's or potential customer's transactions in insurance-based investment products or financial instruments and the period over which they have been carried out;
(c) the level of education, and profession or relevant former profession of the customer or potential customer.
2. The insurance intermediary or insurance undertaking shall not discourage a customer or potential customer from providing information required for the purposes of Article 30(1) and (2) of Directive (EU) 2016/97.
3. Where information required for the purposes of Article 30(1) or (2) of Directive (EU) 2016/97 has already been obtained pursuant to Article 20 of Directive (EU) 2016/97, insurance intermediaries and insurance undertakings shall not request it anew from the customer.
4. The insurance intermediary or insurance undertaking shall be entitled to rely on the information provided by its customers or potential customers unless it is aware or ought to be aware that the information is manifestly out of date, inaccurate or incomplete.
RULEBOOK TOPIC: SECTION 3 - Provisions common to the assessment of suitability and appropriateness
RULEBOOK CATEGORY: Delegated Regulation (EU) 2017/2359 (on the requirements related to insurance-based investment products)
Last update on: 16 Apr 2021