The new Insurance Code of Business sourcebook (ICOBS) means small changes to the sales process for dealers, but these must be in place before July.

The FSA advises several steps for dealers selling insurance products in the meantime.

Customers buying PPI must now receive extra advice about claiming.

They should also be advised about the extended cooling-off period, and told to check the policy wording in that time.

Single premium PPI customers should be told about monthly and total price of the cover during the sales process.

Dealers who sell PPI and pure protection contracts, covering income protection and critical illness insurance, will have to fully inform customers about the price and level of cover offered.

Non-advised policies must be sold with clear information advising that the customer has sole responsibility for deciding whether it suits their needs.