After an agency relationship ends, what is the correct treatment of information that was confidential during the life of the agency?
A: The information is only confidential while the agency is operational
B: The information must remain confidential, even after the agency has ended
C: The information must remain confidential for a further 12 months after the agency has ended
D: Confidentiality does not apply once an insurance contract ends
B. The duty to act in good faith means that the information must remain confidential, even after the agency has ended.
2B: Insurance-backed guarantees are presently available for many trades and occupations including glazing, roofing, timber treatment, property renovations and renewable energy systems. Demolition contractors cannot as there should not be anything left to fail to fulfil its intended purpose.
A five-year endowment policy matured on 1 August 2017 with a maturity value of £40,000. The policy had been taken out with a single premium of £30,000. What is the amount of the top-sliced gain?
D: The chargeable gain is £10,000 being the maturity value of £40,000 less the single premium of £30,000. The top sliced gain is £10,000/5 years = £2,000.