Chapter 1. Scope of application and definitions
The scope of the law
section 1 of this Act contains provisions on insurance mediation.
With insurance mediation "means a professional activity as
consists in
1. present or suggest insurance contract or carrying out other
preparatory work before the insurance contract,
2. on behalf of someone else, enter into contracts of insurance, or
3. assisting in the Administration and performance of contracts of insurance.
paragraph 2 shall not be considered As insurance mediation activity
only consists in the
1. refer someone to an insurance company or a
insurance intermediaries,
2. provide general information regarding the insurance to someone,
3. in the context of another professional activity in isolated cases leave
information or advice on insurance to any, or
4. professional handle, evaluate or regulate
insurance cases.
paragraph 3 of the rules on insurance also applies to reinsurance, if
nothing else is said.
section 4 provisions concerning insurance intermediaries also applies
tied insurance intermediary, unless otherwise stated.
§ 5 When an insurance intermediary exercises such side activities
as described in Chapter 2. 5 section 15 Act (2007:528)
the securities market, the law is also applicable to this
activities, unless otherwise stated. Law (2007:565).
6 § For foreign insurance intermediaries in Sweden
the provisions of this Act apply mutatis mutandis. For
such branches of foreign insurance intermediaries referred to
in 10 § 4 a applies in General Act (1992:160) on foreign
branches, etc.
Exemptions from the scope
section 7 of the Act does not apply to insurance mediation
of an insurance undertaking or an employee of a
insurance companies acting on the company's responsibility.
section 8 of the Act does not apply if
1. insurance mediation activity only requires knowledge of the
insurance provided,
2. insurance mediation activity carried out by someone who conveys
insurance alongside their main profession;
3. the brokered the insurance is complementary to the goods or
service and insurance cover
(a)) the risk of loss or malfunction of or damage to the
the goods, or
b) risk of loss of or damage to baggage or other
risks associated with a trip,
4. the imparted covers other than life assurance
or liability insurance,
5. the annual premium for the brokered insurance
exceeds a value of 500 euros, and
6. the brokered insurance for a maximum of five years, including
possible extensions.
The insurance referred to in the first subparagraph 3 (b) may also contain
life assurance or liability risks, provided that this
insurance protection is subordinate to the main
insurance cover for risks in connection with the trip.
Contract terms that deviate from the law
§ 9 contract conditions which derogate from the provisions of Chapter 5. 4
and 7 sections may not be invoked against the customer or someone who derives
his right from him otherwise than when the Agency intends
reinsurance, or insurance of large risks.
Definitions
section 10 of this Act means
1. tied insurance intermediary:
a) a Swedish natural or legal person who has entered into an agreement
with one or more insurance undertakings to communicate
insurance products, where such products are not in competition with
each other and the agreement means that the insurance company is
responsible for the property damage suffered by a customer,
insurers or anyone deriving their rights from the customer
as a result of the provider intentionally or negligently:
overrides its obligations under Chapter 5. paragraph 4, or
(b)) a Swedish natural or legal person exercising
insurance mediation in addition to its main
professional practice and who have entered into an agreement with one or more
insurance companies to convey insurance products, if
These products are complementary to the goods delivered
or services provided under this
main professional activities and the agreement means that
the insurance company is liable for property damage
affects a customer, an insurer or anyone who derives
its right by the customer due to the provider's negligent
or negligently breach its obligations under Chapter 5.
paragraph 4,
2. "competent authority" means a foreign authority or other
foreign body that has the competence to decide on the conditions for
or registration of foreign insurance intermediaries or to
supervise such intermediaries,
3. EEA: European economic area,
4. branch:
a) a branch office with independent management,
(b)) a Swedish natural or legal person who, under the
the management and control of a foreign insurance intermediaries,
empowered to take the intermediary binding legal acts
with a third party and which has a permanent mission from
intermediary, or
c) a natural or legal person who, under the guidance and
control of a Swedish insurance intermediary, authorised
take the intermediary binding legal acts with third
man and that has a permanent mission from the intermediary,
5. insurance intermediaries: a Swedish natural or legal
person registered under this Act,
6. home country means the country where a foreign insurance intermediary has
his residence,
7. qualifying holding: the same as in Chapter 1, paragraphs 15 and 16
the insurance business Act (2010:2043)
8. parent company: same as in Chapter 1. paragraph 4 of the first to third subparagraphs
annual accounts Act (1995:1554),
9. big risks: the same as in Chapter 3. section 16 of the second and third
subparagraphs insurance business law,
10. Swedish natural person: a natural person who resides
in Sweden and who pursue their activities here,
11. Swedish legal person means a legal person that has its
resident in Sweden, and
12. foreign insurance intermediary: a foreign natural or
legal person in their home country is registered to practise
insurance mediation. Law (2010:2070).
Chapter 2. Permits and registration for Swedish
insurance intermediaries
Licensing and registration
section 1 of the insurance mediation directive, with the exception of the case referred
referred to in paragraph 4 shall be exercised only with the permission of the financial supervision authority.
Permission may be given to a Swedish natural or legal person.
Provisions on the conditions for foreign
insurance intermediaries to carry on insurance mediation in Sweden
see Chapter 3.
section 2 of the State for insurance mediation may refer to
1. all types of insurance,
2. only life insurance, or
3. only non-life insurance.
The authorisation may be limited to one or more
classes or groups of classes that
described in Chapter 2. 11-13 of the insurance business Act (2010:2043) and
in regulations issued pursuant to Chapter 2. 19 § 2
the same law. Law (2010:2070).
section 3 of The who has a permit under section to exercise
insurance mediation shall, not later than six months after the
permission was granted to register for registration with
The companies registration office.
If the notification of registration is not made within this period or if the
Bolagsverket by decisions which have become final written off
such notification or refused registration, authorisation ceases
to apply.
Operations may not commence before registration.
4 section For a tied insurance intermediary in lieu of
It is said in 1 – 3 of the insurance company with which
the provider has agreed to convey its
insurance products, shall notify the provider for the registration
with the companies registration office. Prior notification shall be made to
the insurance company to verify that the provider meets
the requirements of section 5 1 – 3 or 6 paragraph 1, 3, 4
subparagraph, and in regulations that have been issued with the support of 9
Cape. section 1 and section 2 of 2, 3 and 5. The insurance company shall, by
to request an extract of the register maintained under the Act
(1998:620) on the registry, make sure that
the requirements of § 5 (2) and (6) paragraph 3 in this respect is
met.
In a notification shall state whether the Agency should concern all kind
of insurance, only life insurance or just
indemnity insurance, or whether it should be limited to a
or more classes or groups of
classes of insurance referred to in Chapter 2. 11 – 13, §§
the insurance business Act (2010:2043) and in regulations that have
issued pursuant to Chapter 2. 19 § 2 same team.
Operations may not commence before registration.
Law (2010:2070).
The conditions for authorisation of a natural person
§ 5 Permission for a Swedish natural person to exercise
insurance mediation may be given only if the natural person
1. is not a minor, bankrupt or subject to disqualification
or trustee under Chapter 11. 7 § parental code,
2. do not appear in the register kept under the Act
(1998:620) on load records with regard to certain severe
property crimes or serious economic crime
and has shown good character in Economic Affairs,
3. have appropriate knowledge and skills for the activities
shall be exercised, and
4. covered by insurance for liability which may
imposed on him/her if he/she infringes his obligations.
The conditions for authorisation of a legal person
section 6 of the State for a Swedish legal entity exercising
insurance mediation may be granted only if the
1. the legal entity is not bankrupt or being wound up,
2. the legal person is covered by an insurance policy for
liability which may be imposed on this if the override
their obligations,
3. to be included in the legal entity's management or
be a substitute for him, meets the requirements of paragraph 5(2) and has
sufficient insight and experience to participate in the management of the
a legal person who pursue the activity of insurance mediation, and
4. staff members who shall convey the insurance for the
legal entity's behalf comply with the requirements of § 5, 1-3.
The legal person shall verify that the conditions
in accordance with the first paragraph 4 are fulfilled. In this context,
the legal person may request an extract from the register
conducted pursuant to lagen (1998:620) on load records displayed
up.
Chapter 3. Foreign insurance intermediaries in Sweden
Insurance intermediaries whose country belongs to the EEA
§ 1 a foreign insurance intermediaries whose country belongs to the EEA
get
1. undertake insurance mediation from such branch in Sweden as
referred to in Chapter 1. 10 § 4 a or b, beginning one month after the
the financial supervision authority of a competent authority in
insurance intermediary's home State has received a notification
If the agent's intention to undertake insurance mediation from
branch in Sweden,
2. undertake insurance mediation by providing and
provide services in Sweden without creating branch here
starting one month after the financial supervisory authority from a
the competent authority of the country of origin of the insurance intermediary has taken
receive a notification if the agent's intention to exercise
insurance mediation by offering and providing
services in Sweden without setting up a branch here.
The financial supervision authority shall inform the insurance provider if they
provisions applicable to the business here. If the intermediary
shall perform activities through a branch, the information
be submitted before activities begin.
Other foreign insurance intermediaries
section 2 of a foreign insurance intermediaries whose country does not belong
to the EEA, with the permission of the financial supervision authority exercising
insurance intermediation from such branch in Sweden referred to in 1
Cape. 10 § 4 (a) or (b).
Authorisation may be granted only if the
1. the insurance intermediary in their homeland under the reassuring
supervision of a competent authority and the authority has acknowledged
to establish themselves in Sweden, and
2. There is reason to believe that the insurance intermediary fulfilling the
requirements in Chapter 2. 5 or section 6.
paragraph 3 of the licence pursuant to paragraph 2 may refer to:
1. all types of insurance,
2. only life insurance, or
3. only non-life insurance.
The authorisation may be limited to one or more
classes or groups of classes that
described in Chapter 2. 11-13 of the insurance business Act (2010:2043) and
in regulations issued pursuant to Chapter 2. 19 § 2
the same law. Law (2010:2070).
section 4 of The who has a permit under section 2 of the exercise
insurance mediation shall, not later than six months after the
permission was granted to register for registration with
The companies registration office.
If the notification of registration is not made within this period or if the
Bolagsverket by decisions which have become final written off
such notification or refused registration, authorisation ceases
to apply.
Operations may not commence before registration.
Chapter 4. Swedish insurance intermediaries ' activities abroad
Branch operations in the EEA
section 1 of the insurance intermediaries To set up such a branch
referred to in Chapter 1. 10 § 4(a) or (c) in another country within the EEA for
the activities referred to in Chapter 1. § 1, the intermediary
notify the financial supervision authority of its intention before the business
begins.
The financial supervision authority shall, within one month from the
the notification was received, leaving it to the competent
authority of the country where the branch is established. Inspection
shall notify the insurance intermediary when the inspection leaves
of the notification.
It is said in the second paragraph does not apply if the Member State
in which the branch is established has reported to the European
the Commission that the State does not want to receive such
notifications referred to therein. Law (2011:833).
Cross-border activities within the EEA
2 § Want an insurance intermediary offering and provide
the services referred to in Chapter 1. § 1 in another country in the
The EEA without the establishment of the branch in which the intermediary shall inform
The financial supervision authority of its intention before the operation is started.
The financial supervision authority shall, within one month from the
the notification was received, leaving it to the competent
authority of the country where the activity is exercised.
The Inspectorate shall notify the insurance intermediary when
the inspection leaves over the notification.
It is said in the second paragraph does not apply if the Member State
where the activity is exercised has reported to the European
the Commission that the State does not want to receive such
notifications referred to therein. Law (2011:833).
Notification to the companies Registration Office
3 § If an insurance intermediary has informed the
The financial supervision authority pursuant to paragraph 1 or paragraph 2 of the first
subparagraph, the inspection report to the companies registration office.
A notification shall be made when the financial supervisory authority hand over
the notification to the competent authority of the country where
the branch will be set up or operation shall be exercised.
In the cases referred to in paragraph 1, third subparagraph, and paragraph 2 of the third paragraph
a notification shall be made when the financial supervisory authority has received
the notification.
Chapter 5. Rules of operation
Side activities
section 1 of an insurance intermediary, with the permission of the
The Swedish financial supervisory authority to exercise such activity as referred to in 2
Cape. 5 section 15 Act (2007:528)
securities market.
When assessing an application for an authorisation as referred to in the first subparagraph
the provisions of Chapter 2. 5 or 6 § mutatis mutandis.
Law (2007:565).
section 2 of The authorised to exercise such activity
referred to in article 1, first subparagraph, no later than six months after
the permission was granted to register for registration with
The companies registration office.
If the notification of registration is not made within this period or if the
Bolagsverket by decisions which have become final written off
such notification or refused registration, authorisation ceases
to apply.
Ancillary operations may not commence before registration has
occurred.
paragraph 3 of the financial supervision authority may prohibit an insurance intermediary
to exercise other side activities other than those referred to in article 1, first
subparagraph, if there are special reasons.
Good försäkringsförmedlingssed, etc.
section 4 of the insurance intermediary shall at its operations observe good
försäkringsförmedlingssed and with due care to take to
be the customer's interests.
Insurance intermediary shall adapt its advice after
the customer's wishes and needs, and recommend solutions that are
suitable for the customer. If the insurance intermediary has informed
the customer in accordance with Chapter 6. 2 paragraph 1 if he or she
provide advice on insurance cover on the basis of a fair
analysis, is the broker required to provide advice for a
analysis of a sufficiently large number of insurance contracts on
the market.
The provider shall advise against a customer who is a natural person who
the understanding that fall outside the
trade from taking action which cannot be regarded as
appropriate to the person's needs, economic
conditions or other circumstances.
If the insurance intermediary shall exercise such side activities referred to
in article 1, first paragraph, also apply the provisions of Chapter 8.
Act (2007:528) securities market for the activities
mutatis mutandis. Law (2007:565).
Treatment of assets belonging to the client
paragraph 5 of the Money and other assets that the insurance intermediary must
care of on behalf of the customer shall be kept separate from your own
assets.
If the insurance intermediary shall exercise such side activities referred to
in article 1, first paragraph, the provisions of Chapter 2.
5 section 15 c Act (2007:528)
securities market for the business. Law (2007:565).
Complaint handling
section 6 of the insurance intermediary shall ensure that customers and other
involved in insurance brokerage in an appropriate manner
to register complaints about the provider. The procedure for handling
by notified complaints is to be effective. The provider shall
respond to complaints as soon as possible.
Liability
section 7 If the insurance intermediary, intentionally or negligently:
override their obligations under paragraph 4, the intermediary
replace clean property damage as a result of a
the customer, an insurer, a mutual fund company, a
management company, a mutual fund company or someone who derives his
right from the customer.
§ 8 The who want to claim compensation under section 7 shall
notify insurance intermediary thereof within a reasonable time
After he or she has noticed or should have noticed that
damage has occurred.
If notification is not made within a reasonable time, the right to
damages under this Act removed. The same shall apply if an action is not
brought within ten years from the interchange at the moment.
Rules of procedure and instructions on the Division of labour between
corporate bodies
9 § the obligation under Chapter 8. 46 (a) of the Swedish companies act
(2005:551) of the Board of Directors of a public company to annually
establish written rules of procedure for its work concerns
also for the Board of Directors of a private limited liability company authorized
to undertake insurance mediation. However, this does not apply in
the case of companies whose Board has only one member.
The obligation under Chapter 8. 46 (b) of the Swedish companies act for
the Board of Directors of a public company that in written
instructions specify the Division of labour between the bodies
also applies to the Board in a private limited company
licensed to undertake insurance mediation.
The Chairman of the Board shall see to it that the Board fulfils the
information listed in this section. Law (2014:555).
Chapter 6. Insurance intermediary's obligation, etc.
Information prior to the conclusion of an insurance contract
section 1 of the insurance intermediary shall in good time before the
insurance contract, submit information to the customer about
1. name and address of the insurance intermediary,
2. the insurance intermediary is listed in and
how the registration process can be controlled,
3. the authority that supervises
insurance intermediary,
4. whether the insurance broker has a qualifying holding
in an insurance company or whether an insurance company
or the parent undertaking of an insurance undertaking has a
qualifying holding in an insurance intermediary,
5. the price of the insurance mediation activity or the basics of
the price is determined and if commissions or other compensation may
be expected to be paid by a party other than the customer,
6. liability insurance,
7. the opportunities there are to make complaints against
insurance intermediaries and
8. the possibilities to get a dispute with
insurance intermediary examined outside the Court.
For a tied insurance intermediary in lieu of the
as stated in the first paragraph 6 that the intermediary shall inform
customer that the insurance company with which he or she
has signed an agreement to convey its insurance products,
responsible for the property damage suffered by a customer,
insurers or anyone deriving their rights from the customer
as a result of the provider intentionally or negligently:
overrides its obligations under Chapter 5. 4 section.
Information referred to in the first and second subparagraphs shall be submitted
even in the case of renewal or modification of the contract, if it
needed.
section 2 of the insurance intermediary shall in good time before the
insurance contract, submit information to the customer about
whether the provider, in the case of the current
the insurance contract,
1. provide advice on the basis of a fair analysis referred to in
Chapter 5. paragraph 4 of the second sentence of the second paragraph,
2. by agreement pledged to convey insurance exclusively
for one or more insurance undertaking, or
3. convey insurance from one or more
insurance companies in other cases than those referred to in 1 and 2.
In the cases referred to in the first paragraph 2 and 3 shall
insurance intermediary shall also disclose the names of these companies.
Information referred to in the first and second subparagraphs shall be submitted
even in the case of renewal or modification of the contract, if it
needed.
Information form
paragraph 3 of the Information referred to in paragraphs 1 and 2 shall be communicated to the customer
in a document or in any other legible and durable form as
is available for the customer.
The information should be clear and understandable. It shall, with the
except as provided by the third and fourth paragraphs, left on
Swedish.
If the brokered insurance relates to an undertaking in another
country within the EEA, the information appears in an official
the language of that country.
The information may be submitted in any language other than those resulting from
the second and third paragraphs, if the customer requests it.
section 4 of the Information referred to in paragraphs 1 and 2 may be provided orally on
1. the customer requests it,
2. immediate insurance cover is necessary, or
3. the insurance be communicated by telephone.
As soon as possible after the insurance contract has been concluded, shall
the information is given in the manner provided in section 3.
Duty to communicate information
paragraph 5 of the insurance intermediary shall provide the customer, communicate
such information about the insurance contract as a
insurance companies are required to file a
policyholders.
Documentation duty
section 6 of the insurance intermediary shall document what has
occurred at the interchange and provide documentation
to the customer.
Exemption from the obligation of insurance intermediaries
Article 7 the provisions of paragraphs 1 to 6 shall not apply in
1. mediation by reinsurance,
2. mediation of insurance of large risks, or
3. such ancillary activities referred to in Chapter 5. Article 1, first paragraph.
Penalties for non-payment information
section 8 if the operator does not give information in accordance with
1-4 sections to the Marketing Act (2008:486) applied, with
exceptions to the provisions of §§ 29-36 of
market interference charge. Such information shall be deemed to be
material in accordance with section 10, third paragraph Marketing Act.
Law (2008:510).
Chapter 7. Supervision
Registration authority
1 § Bolagsverket's registration authority for
insurance intermediaries and for foreign insurance intermediaries
referred to in Chapter 3. 2 §. In fact, the sales records of
insurance broker, where the information by law or
administrative provisions shall be included in the registry are written in.
For registration of such branches of foreign
insurance intermediaries referred to in Chapter 1. 10 § 4 a applicable law
(1992:160) if foreign branches, etc.
section 2 of the notice On the applicant for registration has not been followed
What is stipulated on the notification, or if there is something
other obstacles to registration, the Office shall submit to the
the applicant to submit its observations within a period of time or make the correction. If
the order is not complied with, shall be depreciated. A
disclosure of this penalty shall be included in the notice. If
There are still obstacles to registration, even after the
that opinion has been submitted, the applicant shall be given the opportunity to
comment on the obstacle. See the obstacle still remains, shall
registration may be refused if there is no reason to give the applicant
a new injunction.
Supervision and its extent
section 3 of the FSA supervise the exercising
insurance mediation follow this law, regulations
issued pursuant to the Act and regulations
regulates the insurance intermediary operations and regulations
delivered with the support of the latter regulations.
Law (2009:75).
Information and studies
section 4 of the insurance intermediaries, foreign insurance intermediaries
practising in Sweden under Chapter 3. 1 or 2 and
insurance companies are required to to the FSA
provide the information on their activities and thus
related issues that the inspection request.
The financial supervision authority may, when it deems it necessary
conduct a survey of an insurance intermediary, a
branch of a foreign insurance intermediaries such as referred to in
Chapter 3. Article 1, first paragraph 1 or paragraph 2 of and a
insurance companies.
4 a of the Government or the authority, as the Government determines
announces that certain tasks under
the first subparagraph shall be submitted to the financial supervision authority instead
must be submitted to the central statistical office. Law (2014:488).
Cooperation with the competent authorities
paragraph 5 of the financial supervision authority shall provide the information as a
competent authority in another country within the EEA needs for its
supervision of insurance intermediaries carrying on business here
According to Chapter 3. § 1.
Auditor
section 6, If the insurance intermediary by law shall appoint an auditor,
the Swedish financial supervisory authority may appoint an auditor to the other
Auditors participate in the audit of the insurance intermediary.
The inspection may at any time revoke any such appointment
and appoint a new auditor.
The auditor has the right to equitable remuneration of insurance intermediary
for his work. The notary's size is determined by the
The Swedish financial supervisory authority.
Fees to the FSA
section 7 of the insurance intermediaries, such foreign
insurance intermediaries who have established branch here as 3
Cape. Article 1, first paragraph 1 or paragraph 2 of and insurance companies
annual dues shall pay for FSA
activities related to this law and statistical
Central Agency activities under the Act (2014:484)
database for the monitoring and supervision of
financial markets. Law (2014:488).
Chapter 8. Interventions
Crackdown on insurance intermediaries
§ 1 If an insurance intermediary has breached its
obligations under this law, in accordance with regulations
issued by virtue of the law, or pursuant to other statutes
who regulates the insurance intermediary business, as well as
regulations that have been issued with the support of the latter
regulations, the financial supervision authority Act.
The financial supervision authority shall issue an order taking
action within the specified time, a prohibition to enforce decisions or
a note. If the infringement is serious,
insurance agent's permit is withdrawn or, if it is
sufficient warning is announced.
The financial supervision authority may refrain from action if a
infringement is minor or excusable, if
insurance intermediary shall make the correction or if any other
Authority has taken action against the insurance intermediary and
These measures were deemed sufficient. Law (2009:75).
section 2 of the financial supervision authority shall revoke a
insurance intermediary's licence if the insurance intermediary
1. not within one year from the permission granted is
begun to exercise activities which the State intends,
2. have declared that they forgo the permit,
3. for a continuous period of six months has not exercised
such activities as the permit relates, or
4. no longer fulfils the conditions of the permit.
If someone who is part of the management of a legal person does not
satisfy the requirements set out in Chapter 2. 6 paragraph 3,
the permit is revoked in accordance with the first paragraph 4 only if
The FSA first decided to remark that the person
included in the management of the legal person and if he or
She, then one of the inspection, fixed period of up to three months
have passed, still remains in the lead for the legal
the person.
In the case referred to in the first subparagraph 1 and 3, instead warning
granted if it is enough.
paragraph 3 of the decision of withdrawal of authorization may be subject to
prohibition to stay in business.
4 § in the case of tied insurance intermediaries shall as
derogation from §§ 1-3 If the revocation of permits rather than refer to
revocation of registration.
In the cases referred to in section 2, first subparagraph 2, the registration in
rather than be withdrawn by the companies registration office.
§ 5 If the financial supervision authority has revoked a
insurance intermediary authorised to practice mediation of
life insurance or any kind of insurance policy, Inspectorate
In addition, withdrawal of authorisation to pursue the insurance intermediary
such side activities referred to in Chapter 5. Article 1, first paragraph.
The same applies if the financial supervision authority or the companies Registration Office has
withdrawn a tied insurance intermediaries ' registration
concerning mediation of life insurance or any kind of
insurance policies.
section 6, If the financial supervision authority has revoked the licence for a
insurance intermediaries, the supervisory authority as soon as possible, inform:
The Swedish companies registration office accordingly.
If the companies Registration Office has revoked the registration in respect of
mediation of life insurance or any kind of insurance for
a tied insurance intermediary authorised to exercise
such activity as described in Chapter 2. 5 section 15
Act (2007:528) securities market, the companies Registration Office
promptly inform the financial supervision authority thereof.
Law (2007:565).
section 7 Of the financial supervision authority has revoked the licence for a
insurance intermediaries who have notified the Inspectorate under 4
Cape. Article 1, first paragraph or Chapter 4. paragraph 2 of the first subparagraph, and
Inspectorate has supplied over the notification to the competent
authority of the country in which the branch is to be set up or
activities shall be exercised, the supervision authority shall inform the
competent authority about the recall.
In the case of tied insurance intermediaries shall as
the first subparagraph if the FSA revoking
State instead refer to Bolagsverket's supervisory authority or
revocation of registration.
It is stated in the first and second subparagraphs shall also apply if
The Swedish financial supervisory authority, instead of revoking the permit
or registration, has announced the warning.
Action against the insurance undertaking
section 8 If the insurance undertaking has failed to fulfil its obligations
under this Act, or regulations issued pursuant
by law, the financial supervision authority Act.
The financial supervision authority shall issue an order to take
action within the specified time, a prohibition to enforce decisions or a
remark. If the infringement is serious,
the insurance company's concession is forfeited or, if it is
sufficient warning is announced.
The financial supervision authority may refrain from intervention if a violation
is calling or excusable, if the insurance company makes correction
or if any other authority has taken action against
insurance company and these measures are deemed inadequate.
§ 9 About an insurance company for the brokerage of insurance policies
takes advantage of someone who is not entitled to exercise
insurance intermediation, shall submit to the financial supervision authority
insurance company to stop this. The same applies if the
an insurance company for the brokerage of insurances takes advantage
someone who is not entitled to convey such insurance
as the Agency intends.
Intervention against foreign insurance intermediaries
paragraph 10 of the financial supervision authority may submit to a foreign
insurance intermediaries who pursue the activity of insurance mediation in
Sweden under Chapter 3. 1 § to make correction on
insurance intermediary has violated this Act or
regulations issued under the law,
2. has violated regulations governing
insurance intermediary's activities, as well as regulations that have
delivered with the support of the latter regulations, or
3. otherwise proved unfit to exercise
insurance mediation. If the correction is not made, the inspection
prohibit insurance intermediary to exercise
insurance mediation in this country.
The financial supervision authority shall inform the competent authority in
insurance intermediary's home Member State, indicating the measures taken
by virtue of this section. Law (2009:75).
section 11 if a foreign insurance intermediary exercises
insurance mediation in Sweden under Chapter 3. section 2, paragraphs 1-3
apply to the business here.
The financial supervision authority shall inform the competent authority in
insurance intermediary's home Member State, indicating the measures taken
by virtue of this section.
Penalty
section 12 If an insurance intermediary, an insurance undertaking or
a foreign insurance broker who exercises
insurance mediation in Sweden under Chapter 3. paragraph 2 has been notified to the
decision on the note or warning in accordance with 1, 8 or section 11,
The financial supervision authority may decide that the insurance intermediary,
the insurance company or the foreign insurance intermediary
shall pay the penalty.
The fee to the State.
paragraph 13 of the Penalty fee shall amount to not less than 5 000 kroons and not more than
SEK 50 million.
The fee may not exceed 10% of the turnover almost
the previous fiscal year for the insurance intermediary,
the insurance company or the subsidiaries of such foreign
insurance intermediaries referred to in Chapter 3. 2 §. If the infringement
have occurred during the insurance intermediaries, insurance company
or the branch's first year of operation, or if the information on the
turnover was otherwise missing or defective, it may
estimated.
The fee must not be so large that the insurance intermediary or
the insurance company then do not meet the requirements of Chapter 8.
section 3 of the Act (2007:528) securities market, Chapter 6. section 1 of the Act
(2004:297) on banking and finance law or Chapter 4. 1 §
the insurance business Act (2010:2043).
When the amount is decided, it shall be taken in particular of the
the gravity of the infringement, which has led to the
the note or warning, and how long the breach has
been going on. Law (2010:2070).
Late payment fee
section 14 If an insurance intermediary, an insurance undertaking or
a foreign insurance broker who exercises
insurance mediation in Sweden under Chapter 3. 1 or 2 § sounds
but in time make the disclosures provided for under
of Chapter 9. 2 § 9, the financial supervision authority may decide to
insurance intermediary, the insurance undertaking or the
foreign insurance intermediary shall pay a
late fee with a maximum of 100 000 SEK.
The fee to the State.
Enforcement of the decision on penalty or late fee
section 15 of the penalty or late fee shall be payable to the
The financial supervision authority within thirty days after the decision on the
It has become final, or the longer time period specified in
the decision.
section 16 of the FSA's decision to impose a penalty or
late charge may be effected without previous judgment or
rash if the fee has not been paid within the time specified in the
section 15.
section 17 Of the penalty or late fee is not paid
within the time specified in section 15, the financial supervision authority shall submit
the unpaid fee for collection. Provisions on
Recovery Act (1993:891) for the recovery of the State
Receivables, etc.
18 § a penalty or late fee imposed on falls
away to the extent that enforcement has not been made within five
years from the decision became final.
Intervention against the which has no licence or registration
19 § if someone engaged in insurance mediation in Sweden without
be entitled to the financial supervision authority shall submit to the
him to cease operations. The same applies if a
insurance intermediary mediates in the insurance of a kind
He is not entitled to convey or exercise such
side activities referred to in Chapter 5. Article 1, first paragraph without
be registered for it.
It is uncertain if the activity is subject to the law, may
The financial supervision authority shall submit to a person who performs operations that
provide the information about the activities necessary to assess
If the law is applicable.
VITE
section 20 of the financial supervision authority may attach to an injunction or prohibition
under this law with a penalty.
Chapter 9. Appropriations
section 1 of the Government may provide for the serious
property crimes and the serious economic crime
as described in Chapter 2. 5 § 2 and on how the register control under 2
Cape. 4-6 sections.
section 2 of the Government or the authority the Government may
provide for
1. what insurance company otherwise shall respect according to Chapter 2.
4 § in connection with the registration and control of related
insurance intermediaries,
2. What is meant by good character in economic
Affairs pursuant to Chapter 2. 5 § 2,
3. the knowledge and skills required in Chapter 2. 5 § 3,
4. such insurance for damages referred to in 2
Cape. 5 § 4 and § 6, first paragraph 2,
5. What is your insight and experience as required in Chapter 2. 6 §
the first subparagraph of paragraph 3,
6. What is the legal person otherwise shall respect under 2
Cape. paragraph 6, second subparagraph, in conjunction with the control of employees,
7. what the insurance intermediary shall comply with according to Chapter 5. 6 §
When handling complaints,
8. What is the insurance intermediary shall comply with according to Chapter 6. 6 §
When it comes to documentation of insurance broking
disclosure of such documentation,
9. what information is an insurance intermediary, a
the insurance company or a foreign insurance intermediary
According to Chapter 7. paragraph 4 shall submit to the financial supervision authority of its
supervisory activities, and
10. such fees for supervision referred to in Chapter 7. 7 §.
10 Cape. Appeal
Appeal against the decision of the financial supervisory authority
paragraph 1 of the decision of the financial supervisory authority in accordance with Chapter 8. Article 19, second paragraph
may not be appealed.
Other decisions by the Swedish financial supervisory authority under this Act may
be appealed to the administrative court.
Leave to appeal is required for an appeal to the administrative court.
The financial supervision authority may provide that a decision on the ban,
order or revocation shall take effect immediately.
Appeal of Bolagsverket's decision
section 2 of the Corporate Board's decision to dismiss a complaint, or to
refuse or revoke a registration may be appealed to the General
Administrative Court within two months from the date on which the appellant
received the decision.
Leave to appeal is required for an appeal to the administrative court.
Transitional provisions
2005:405
1. this law shall enter into force on 1 July 2005.
2. by law repeals Act (1989:508) on insurance brokers.
3. insurance brokers at its entry into force is
registered with the FSA under the first and second
subparagraphs law of insurance brokers, may continue to exercise
activities until 31 December 2006 or, if an application
If authorization under the new law have been received by the
The FSA last at this time, until
the application has been examined. During this period
provisions of the law on insurance brokers.
4. any other natural or legal persons who, at the time
for its entry into force engaged in insurance mediation
covered by the Act may continue to exercise the activities to, and
31 March 2006 or, if the last at this time
the financial supervisory authority has submitted a request for authorisation,
or to the companies Registration Office has received a notification of
registration as a tied insurance intermediary until
the application or notification has been tried.
5. in the case of transit agreements concluded prior to
entry into force for older provisions. If
insurance intermediary has accepted a contract extension
After the entry into force, however, the new provisions.
6. A question of intervention in accordance with Chapter 8. judged according to older
provisions for any circumstance giving rise to the question of
intervention relating to the period prior to its entry into force.
However, this does not apply if the application of the new
the provisions would lead to a less rigorous intervention.
7. For decisions which have been granted in accordance with the law of
insurance broker, the provisions of the law apply to
appeal and at the appeal proceedings.
