Mis-selling definition
Mis-selling means sale or solicitation of policies by the insurer or through distribution channels, directly or indirectly by
Mis-selling means selling a product or service by misrepresenting in order to successfully complete a sale and includes providing consumers with misleading information about a product or service or omitting key information about a product or providing information that makes the product appear to be something it is not;
Mis-selling means the sale of a Policy in circumstances where:
More Definitions of Mis-selling
Mis-selling means any advice or statement given by or on behalf of, or any act, omission or practice of or on behalf of, any Group Company or, so far as the Company is aware any of the RSA Assets Companies in connection with the marketing or sale of any products written or distributed by or on behalf of such company, in each case in a manner that either:
Mis-selling means recklessly misrepresenting a product or service in order to
Mis-selling means the marketing or sale of a Policy in circumstances where there were actions or omissions of the Transferor (or any other persons or entities which were involved in the sale of the Policy, including any intermediary or appointed representative, for whose actions or omissions the Transferor is or was liable), which constituted a breach of, or failure to comply with, applicable law or regulation;
Mis-selling means sale of securities or services relating to securities market by any person, directly or indirectly, by─ (i) knowingly making a false or misleading statement, or (ii) knowingly concealing or omitting material facts, or (iii) knowingly concealing the associated risk, or (iv) not taking reasonable care to ensure suitability of the securities or service to the buyer.
Mis-selling means the sale or Administration of a Transferred Policy in circumstances where:
Mis-selling means sale of a product or policy of the Company (including from a distributor, broker or any other person acting on behalf of the Company, if, as a result of their action any loss has arisen to the Company) in circumstances where (i) a misrepresentation was made to the purchaser of the policy or product (ii) the purchaser of the policy or product was not provided with the information with respect to the policy or product required by applicable Regulations or (iii) the purchaser of the policy or the product was otherwise mis‐sold that policy or product, in each case in a manner that either: (1) was not compliant with Regulations in force at the time of such sale where any liability for such lack of compliance with Regulations falls on the Company; or (2) results in (a) the Regulatory Authority or any other relevant regulator determining, requesting or, in the case of a customer remediation plan, approving, or (b) a court or any other relevant tribunal, by a valid and binding decision, after due application of all applicable ordinary appeal procedures (in Slovak: riadne opravné prostriedky) (unless the Company, acting reasonably, assesses that due to the merits of the decision, filing an ordinary appeal would not be cost efficient or such appeal would likely to be dismissed), determining that the Company must pay compensation to customers, by way of remediation must be made to the purchaser of the product or policy or customers, regardless of whether there is any formal claim or customer complaint;
Mis-selling means any advice, statement, act, omission or practice of, given or made in writing or orally by or on behalf of the Company in connection with the sale or marketing of any insurance products provided, offered or sold by the Company that was in breach of or in contravention of any applicable Law in force at the time when the relevant product was provided, offered or sold;