The Financial Services Authority ("FSA") has published a consultation paper on "Packaged Bank Accounts: New ICOBS Rules for the Sale of Non-Investment Insurance Contracts." A packaged bank account is often a current account bundled with a range of insurance policies, access to preferential terms for other financial services (for example an overdraft or mortgage) and sometimes non-financial products and services, for which the customer usually pays a monthly fee. When implementing the Banking Conduct Regime in November 2009 the FSA stated that it intended to carry out a review of packaged bank accounts to get a better understanding of the product and the market. The FSA has now concluded that there is a place in the market for these accounts but that the bundling can make it difficult for customers to focus on the important information when it comes to making informed decisions.  In the consultation paper the FSA proposes that a firm selling insurance policies as part of a packaged bank account must do the following: (i) take reasonable steps to establish whether a customer is eligible to claim the benefits under each policy; (ii) throughout the term of each policy, provide customers with an annual eligibility statement, which sets out any qualifying requirements to claim the benefits under the policy and recommend that the customer reviews their circumstances and whether they meet the eligibility requirements; and (iii) when selling on an advised basis, consider the suitability of each insurance policy.