On 10 August 2010, a new webpage was launched by the FSA on guaranteed asset protection (GAP) insurance. This is insurance that is typically taken out to cover the unpaid balance of a car loan in the event of a total loss of the vehicle. It normally covers the difference between the depreciated actual cash value of the car and the outstanding loan balance on the car. The FSA webpage states that motor retailer firms must ensure that their systems and controls meet 'treating customers fairly' requirements. The FSA requires that these firms ensure customers understand the GAP product and associated terminology, as well as the distinction between advised and non-advised sales. It also directs firms to make it clear that GAP insurance is elective and that a two week cooling off period applies. The calculation involved in determining a payout, and the fact that cover only extends to financial loss following payment from the customer's main comprehensive insurance policy, must be clearly set out for the customer.