A Terms of Business Agreement between an insurer and an intermediary sets out the

A Terms of Business Agreement between an insurer and an intermediary sets out the
A . agreed claims procedures as stated in the Insurance: Conduct of Business sourcebook (ICOBS).
B. criteria to apply when reporting suspicious incidents to the Money Laundering Reporting Officer.
C. framework for the commercial relationship, which defines and allocates the respective responsibilities and rights to each party.
D. disaster recovery procedures to apply if there is a major disaster affecting the insurer.

Answer: C