The Insurance Mediation Directive requires intermediaries to give customers a statement of their demands and needs. Where advice is given, the statement must also explain the reasons for the intermediary’s recommendation. The FSA’s ICOB Rules will require a demand and needs statement from: intermediaries and insurers when selling to retail customers, whether advice is given or not; intermediaries and insurers for advised sales to commercial customers; intermediaries only for non-advised sales to commercial customers. The statement must be given in a durable medium before the contract is concluded. However, it can be given orally: where the customer requires immediate cover or the customer requests that it be given orally. For advised and non-advised sales see ADVISING AND SELLING STANDARDS.