Key Benefits:
Chapter 1 Introduction
Chapter 2 Insurance intermediaries and reinsurance intermediaries ' liability insurance and guarantee
Chapter 3 Insurance and Guarantee Guarantees of the insurance companies, sub-agents companies and management companies
Chapter 4 Means Funds
Chapter 5 Guarantee Guarantee for Trusted Funds
Chapter 6 Penalty provisions
Chapter 7 Entry into force, take-over and auditing provisions
Confession of liability insurance, warranty and treatment of the trusted funds 1)
In accordance with section 20 (2), 5, section 28 (4). 5, section 37, paragraph. paragraphs 6 and 7, and section 54 (4). 2, in the Law on Insurance intermediation, cf. Law Order no. 930 of 18. September 2008, as follows :
Chapter 1
Introduction
§ 1. This notice shall apply to :
1) Insurance brokerers.
2) Reinsurance brokers.
3) Insurance business.
4) Enteragent-companies.
5) Administrative undertakings acting on behalf of the insurance undertakings and under-premises undertakings. 3 and 4.
Chapter 2
Insurance intermediaries and reinsurance intermediaries ' liability insurance and guarantee
§ 2. It is a condition for the undertaking of an insurance broker or reinsurance agent to have a statement from an insurance undertaking,
1) the undertaking is covered by a liability insurance,
2) that the insurance undertaking shall be liable to the liability of liability for the liability of the undertaking by the undertaking or by any person to which it is liable ;
3) that the insurance undertaking covers the activities of the undertaking in all countries within the European Union and countries concluded by the Community in the financial sphere ; and
4) that the coverage of the insurance cover is at least 1,120,200 euros per. cases of injury and of at least 1,680,300 euros for all cases per year ; insurance year, cf. however, paragraph 1 Two and three.
Paragraph 2. In companies with 10 or more registered insurance intermediaries, the liability insurance shall have a total coverage price per insurance years of at least 3.008.297.
Paragraph 3. Where the liability insurance for the individual undertaking is established in the context of a collective system, a large number of co-working undertakings or as a member of an inter-branch association shall apply to the rules referred to in paragraph 1. 1, no. 4, indicated the amount of coverage for each participating undertaking, see however, paragraph 1 2.
§ 3. It is also a condition,
1) that the liability insurance contains cover for the recovery of the coverage in the event that this may be depleted as a result of one or more injuries in an insurance year (policy covered reinstatement),
2) the insurance claim shall contain the right of the company to the termination of the insurance resulting from the undertaking ' s cessation of claims that have been erupting and notified no later than three years after the undertaking ' s termination, cf. Section 4 (4). 1, and
3) the liability of liability in relation to third parties shall cover claims that have been raised and notified no later than three years after the termination of liability insurance, insofar as the non-liability insurance in the second insurance undertaking is not covered by full retro-retroactive coverage.
§ 4. In the case of an undertaking ' s bankruptcy or termination, as well as the withdrawal of authorisation, the establishment must draw up a drain on insurance that covers liability for compensation claims which have been raised and notified no later than three years after the undertaking ' s undertaking ; Cease.
Paragraph 2. The covering amount of the insurance cover must be at least 1,120,200 euros per. emergency cases and at least EUR 1 680.300 for all emergency cases. You mentioned the amount of coverage for the whole three-year period.
Paragraph 3. Discover the company, f. Exes. in the case of transfers of the customer portfolio to other activities, the company ' s insurance undertaking may declare that the existing liability insurance is extended to cover claims arising from the transferable ; insurance brokers ' business or reinsurance intermediaries, which relate to a compensation entitlement received before the transfer and which has been raised and notified no later than three years after the transfer.
Paragraph 4. Could not cover the folklore as specified in paragraph 1. 3 from the undertaking ' s undertaking ' s insurance undertaking or reinsurance intermediary undertaking ' s insurance undertaking shall establish self-drainage insurance of the same extent as specified in paragraph 1. One and two.
§ 5. Although the insurance referred to in section 4 is not drawn or the insurance policy is terminated for other reasons, and without reinsurance of the same extent, the character of another insurance undertaking shall be liable to the liability of the insurance undertaking on behalf of third parties which have been raised ; and reported against the company no later than three years after the termination of liability.
Paragraph 2. In relation to a third party, a liability insurance may only be terminated at the request of the insurance undertaking from a certain date, which may not be able to enter in earlier than one month following the receipt of the request in the Finance-sighted.
§ 6. In the submission of insurance declarations, the insurance undertaking shall comply with the liability insurance in section 2-4 and section 5 (5). 1. The assurance undertaking ' s declaration shall be made on one of the Financial supervision drawn up.
§ 7. For establishments which have a connection as specified in the Act of financial activity, section 5 (5). 1, no. Paraguation 6 and 7, for non-registered offices in this country, the specific position of the Financial Regulation on the content and the scope of an insurance cover established in the country shall correspond to the rules in section 2-4 and section 5 (5). 1.
§ 8. A company may comply with the rules in section 2-5 instead of a guarantee guarantee in a financial institution.
Paragraph 2. In the submission of the guarantee declaration, the financial institution shall ensure that the guarantee shall comply with the rules in section 2-4 and section 5 (5). 1. Guarantee sedatives shall be issued on one of the Financial supervision prepared forms.
Chapter 3
Insurance and Guarantee Guarantees of the insurance companies, sub-agents companies and management companies
§ 9. It is a condition that a business undertaking (hereinafter referred to as the insurance company or an administration company) may conclude an agreement on the sale of insurance products for an insurance undertaking notified as cross-border transactions, service provider pursuant to section 31 of the Act of Finance that the Financial Authority shall be submitted for the purposes of the Financial Authority ;
1) a statement from an insurance undertaking that the insurance agent or the management company is covered by a liability insurance, cf. paragraph 4 and section 10, or
2) a statement that the insurance undertaking with which an insurance contract has been concluded has assumed responsibility for negligent circumstances by the insurance agent or the management company in connection with the insurance intermediation.
Paragraph 2. An insurance business, subsidiary company, an administration company, and a branch of an insurance undertaking or under-premises notified pursuant to section 43 (5). 1 in the Act of Insurance intermediary, which is an agreement with an industry (hereinafter referred to as ' sub-premises or management company ") on the sale of between the parties agreed upon insurance, must be covered by a liability insurance, cf. paragraph 4 and section 10.
Paragraph 3. an insurance business, subagent-agency or an administration company registered in another country within the European Union or in a country such as the Community has concluded an agreement in the financial field, which is a contract ; a business enterprise (hereinafter referred to as a sub-contractor or administration company) on the sale of between the parties agreed on insurance products must be covered by a liability insurance, cf. paragraph 4 and section 10.
Paragraph 4. The assurance undertaking ' s declaration of the liability insurance shall be indicated,
1) that the insurance undertaking shall be liable to the liability of the liability for the liability of the insurance company, the company ' s company or the administration company, by the insurance agent ' s agent ; the maintenance company, the management company, or any such liability ;
2) that the liability insurance covers the activities of the insurance agent, the activities of the acting company or the management company in all countries within the European Union and countries concluded by the Community in the area of the financial sphere ; and
3) that the coverage of the insurance cover is at least 1,120,200 euros per. cases of injury and of at least 1,680,300 euros for all cases per year ; Insurance years.
Paragraph 5. Is the liability insurance for the individual insurance company, sub-agency or management company established in the context of a collective scheme comprehensive more collaborative insurance business agents, sub-agents, or the management companies or established as a member of an inter-branch association shall apply to those referred to in paragraph 1. 4, no. 3, the amount of coverage specified for each insurance business, sub-agency, or administration company.
§ 10. It is also a condition,
1) that the liability insurance contains cover for the recovery of the coverage in the event that this may be depleted as a result of one or more injuries in an insurance year (policy covered reinstatement),
2) the insurance undertaking contains the right of the insurance agent, the subordinate undertaking or the administration company, to an end to the termination of insurance by the insurance agent, to insure against compensation claims that have been raised ; and notified no later than three years after the termination of the insurance facilitator, cf. Section 11 (1). 1, and
3) the liability of liability in relation to third parties shall cover claims that have been raised and notified no later than three years after the termination of liability insurance, insofar as the non-liability insurance in the second insurance undertaking is not covered by full retro-retroactive coverage.
§ 11. In the bankruptcy of an insurance agent company, company or administration company, an end shall draw up a drain on insurance that covers liability for liability in connection with : the replacement requirements, which have been raised and notified no later than three years after the termination of the undertaking or insurance intermediation.
Paragraph 2. The covering amount of the insurance cover must be at least 1,120,200 euros per. emergency cases and at least EUR 1 680.300 for all emergency cases. You mentioned the amount of coverage for the whole three-year period.
Paragraph 3. Although the one in paragraph 1. The insurance policy shall not be endorsed or the insurance policy is terminated for other reasons, and without reinsurance of the same degree of liability in another insurance undertaking, the insurance undertaking of the insurance undertaking for third parties ' s claim against the insurance agent, the assistant company or management company, which has been raised and notified no later than three years after the termination of liability.
Paragraph 4. In relation to a third party, a liability insurance may only be terminated at the request of the insurance undertaking from a certain date, which may not be able to enter in earlier than one month following the receipt of the request in the Finance-sighted.
§ 12. In the submission of the assurance declaration, the insurance undertaking shall satisfy the liability insurance in section 9 (4). Paragraph 1 and paragraph. 4 and 5, section 10 and section 11 (4). 1-3. The assurance undertaking ' s declaration shall be made on the form of the Financial Regulation.
§ 13. For insurance undertakings, sub-agency companies or administrative companies, who have a connection as specified in the Act of financial activity section 5 (5). 1, no. Paraguation 6 and 7, for non-registered offices in this country, the specific position of the Financial Regulation on the content and the scope of an insurance cover established in accordance with Article 9 (2) shall be equivalent to the rules laid down in Section 9 (2). Paragraph 1 and paragraph. 4-5, section 10 and section 11, paragraph 1. 1-3.
§ 14. An insurance business, subagent-agency or management company may be able to comply with the rules in section 9-11 instead of a guarantee guarantee in a financial institution.
Paragraph 2. In the submission of the guarantee declaration, the financial institution shall ensure that the guarantee shall comply with the rules laid down in section 9 (4). Paragraph 1 and paragraph. 4 and 5, section 10 and section 11 (4). 1-3. The financial institution ' s declaration shall be made on one of the Financial supervision drawn up.
Chapter 4
Means Funds
§ 15. Where a company is subject to section 1 as part of the insurance intermediary, they must be inserted into a separate account in a bank account (client account) covered by a guarantee, cf. Chapter 5.
Paragraph 2. The insurance and reinsurance intermediary undertaking shall, at the same time, request authorisation for the SEC, submit a certificate for the creation of a client account, if such funds are received.
Paragraph 3. Other insurance intermediaries shall send proof of the creation of a client account where such funds are received in connection with the notification of registration or when such a client account is created.
§ 16. In a client account, the amount must be inserted, including premiums and insurance payments that the company receives as part of the insurance intermediary, cf. however, paragraph 1 2.
Paragraph 2. Amounts covered by a free-card certificate from an insurance company cannot be pasted on the client account.
Paragraph 3. Provision, including advances to this, and other remuneration received by the company as part of the intermediaries, shall be discontinued from the client account without undue delay.
§ 17. A client account is created in the insurance intermediary company's name and is provided at your disposal.
§ 18. A client account may only be created in financial institutions which, by one of the FGs approved by the Financial Regulation, has committed itself to complying with the provisions of paragraph 1. 2.
Paragraph 2. Regardless of any other intermediation between the insurance intermediation company or any of its customers, the monetary institution shall not, by any other means, be able to dispose of anything in a client-account balance that is required to cover ; the undertaking ' s response to third parties for trusted funds.
§ 19. In the client account, all trusted funds must be inserted within the first day of the day following the receipt, including amounts paid to the insurance intermediation company for the maintenance of the outlay for the client.
Paragraph 2. The amount of this is the amount immediately after receipt is used for payment of the bill for the person concerned.
20. Any insurance intermediary undertaking shall provide a list of trusted funds. The insurance company must have prepared a business process that ensures the correct registration of trusted funds.
§ 21. The Financial supervision may at any time and, without reason, impose an assurance intermediation undertaking within one of the Financial supervision stipulated a short period of time to submit a declaration by a state sautorised or registered auditor for the review of : the client account, cf. section 3 in the notice of the annual reports of the financial intermediaries and the reinsurance intermediaries ' annual reports to the Financial supervision.
Paragraph 2. Has an insurance intermediation company's client account bookkeeping, cf. Article 20, has been incomplete or has the insurance intermediation, by the way, infringed the rules on the treatment of trusted funds, the Financial supervision may require the insurance intermediation undertaking for one of the Financial supervision fixed period or so far. to submit a client account declaration, cf. paragraph 1 each quarter or with the second of the surveillance fixed interval.
Chapter 5
Guarantee Guarantee for Trusted Funds
§ 22. It is a condition for the benefit of an insurance intermediation under section 1 to receive trusted funds, cf. Chapter 4, the existence of a statement by an insurance undertaking or a financial institution (hereinafter called guarantee provides) that :
1) guarantees as self-inflicted claims on the payment of trusted funds, cf. Cap. 4 which can be directed against the insurance intermediary in respect of its business as insurance intermediaries ;
2) the guarantee to which the guarantee has been lodged gives the guarantee a direct claim against guarantees ;
3) the guarantee shall be required to cover the requirements relating to the funds entrusted with the date of the guarantee enter into force, and until the end of the guarantee period (warranty period), cf. ~ 24, and that
4) the guarantee has not been subject to any restrictions other than they are authorized by the notice.
Paragraph 2. Where the guarantee has been established in the context of a collective arrangement, a comprehensive number of undertakings may be a self-employed fund or association, where the commitment of the Fund or association is thus : in accordance with a specific assessment of the Financial Authority, a similar security shall be available at each time as provided for in paragraph 1. 1.
-23. The guarantee may be limited in the amount so that each year of the guarantee period is covered only by a certain amount of the guarantee period. However, this amount shall be at least EUR 300.829 per Insurance intermediation.
Paragraph 2. The limit laid down in paragraph 1. ONE, TWO. Act. the guarantee shall not be reduced, even if the guarantee is set for a shorter period than 1 year.
§ 24. The guarantee may be limited in time, in such a way as to cover only claims made to guarantee no later than three years after the completion of the task which triggers the requirement.
Paragraph 2. The period laid down in paragraph 1 1 shall be suspended at the risk of prosecution against the insurance intermediation undertaking.
§ 25. The guarantee declaration shall be drawn up by the guarantee office. The guarantee declaration shall be made on one of the Financial supervision drawn up form.
Paragraph 2. The guarantee certificate shall ensure that the guarantee shall comply with the provisions of section 22-24.
Paragraph 3. The guarantee guarantee may only be brought to an end at the request of a guarantee, with effect from a certain date, which may not be able to enter in earlier than one month after receipt of the request in the Finance-sighted. Guarantees may, however, require that the guarantee be brought to an end of the day following the receipt of the request in the Financial Regulation where the request is justified in the fraudulent conditions of the insurance undertaking.
Chapter 6
Penalty provisions
SECTION 26. Inherit of § § 2-5, section 9 (4). Paragraph 1 and paragraph. 4 and 5, section 10-11 (4). One and three, section 15, section 16, section 18-23 (4). ONE, TWO. Act. and § 25 is punished by fine.
Paragraph 2. Companies can be imposed on companies, etc. (legal persons) punishable by the rules of the penal code 5. Chapter.
Chapter 7
Entry into force, take-over and auditing provisions
§ 27. The announcement shall enter into force on the 15th. January, 2009.
Paragraph 2. At the same time, notice No Seven out of ten. January 2008, on the liability insurance, insurance, guarantee and treatment of trusted funds, cf. however, paragraph 1 3.
Paragraph 3. Expire assurances drawn by a five-year period of departure prior to the 15th. In January 2009, it must be maintained with the agreed expiration period.
§ 28. You in section 2, paragraph 1. 1, no. 4, section 2, paragraph 2. 2, section 4 (4). 2, section 9 (4). 4, no. 3, section 11, paragraph 1. 2 and section 23 (4). 1 the amount of the liability insurance and the amount of guarantee shall be increased automatically every five years, the first time of the 15. January 2013, and then five years after the previous revision.
Paragraph 2. Revision of the relevant amounts shall be carried out by the percentage change to the European consumer price index for the period from the 15th. January 2008, and to the 15th. of January 2013 or from the date of the previous revision to the new revision and shall be rounded up to the nearest whole euro.
Paragraph 3. The SEC shall publish every five years, with which the percentage of the European consumer price index has changed over the period.
1) The announcement contains provisions which implement parts of the European Parliament's and Council Directive no. 2002 /92/EC of 9. In December 2002 on the insurance intermediaries, no. L 9, s 3).
