Category: Group risk regulation · Reviewed by Chrissie Anderson, Client Executive · Last reviewed 2026-06-10
ICOBS 6 (Product information) sets out the FCA Handbook rules on product information that must be given to a customer for non-investment insurance contracts. It includes the Insurance Product Information Document (IPID) requirements implementing Article 20 of the IDD, the policy summary disclosure requirements, and post-sale disclosure obligations. ICOBS 6A contains specific product information rules for certain product types.
Category: Group risk regulation Also known as: ICOBS 6 Implements: IDD Article 20; PRIIPS for IBIPs Related concepts: ICOBS Insurance Conduct of Business Sourcebook, ICOBS 5 product information, IDD demands and needs statement
The IPID is a standardised document of no more than two sides of A4, in plain language, identifying the insurer, type of insurance, cover, exclusions, payment, claims process and cancellation. It is a key consumer disclosure tool intended to facilitate comparison and informed choice.
ICOBS 6 implements Article 20(4) of the IDD and Commission Implementing Regulation (EU) 2017/1469 on the IPID template. UK firms continue to use the IPID format retained as on-shored EU law under the EU (Withdrawal) Act 2018. Additional FCA rules require disclosure of policy summary information, claims process information and ongoing customer servicing obligations.
ICOBS 6 applies to most non-investment insurance distribution. The IPID requirement does not apply to all products — large risks, certain commercial insurances and reinsurance are exempt. For group insurance, the IPID is typically provided to the policyholder employer; in practice insurers also produce member-facing scheme literature for the insured employees.
A group income protection insurer produces an IPID describing the cover, the deferred period, the limited payment term, the policy exclusions and the claims process. The IPID accompanies the quotation and is provided to the policyholder employer with the policy documents. The employer in turn provides scheme-level information to insured employees in member booklets and benefit communications.
This entry is part of the Apex Insurance Wiki. Last reviewed by Matt Bartlett on 2026-06-10. Next review: 2026-12-10.
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