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Regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance (73/239/EEC)</VALUE> First Council Directive 73/239/EEC of 24 July 1973 on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assuranceArt. 8(3)Council Directive 92/49/EEC of 18 June 1992 on the coordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance and amending Directives 73/239/EEC and 88/357/EEC (third non-life insurance Directive)DirectiveFirst Council Directive 73/239/EEC of 24 July 1973 on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assuranceArt. 8(1) Point A)Council Directive 2013/23/EU of 13 May 2013 adapting certain directives in the field of financial services, by reason of the accession of the Republic of CroatiaDirective Title I —General provisionsArticle 1(1) This Directive concerns the taking-up and pursuit of the...Article 2This Directive does not apply to: The following kinds of...Article 3(1) This Directive shall not apply to mutual associations which...Article 4This Directive shall not apply to the following institutions unless...Article 5For the purposes of this Directive: ‘Unit of account’ means... Title II —Rules applicable to undertakings whose head offices are situated within the CommunitySection A:Conditions of admissionArticle 6The taking up of the business of direct insurance shall...Article 7(1) Authorization shall be valid for the entire Community. It...Article 8(1) The home Member State shall require every insurance undertaking...Article 9The scheme of operations referred to in Article 8 (1)...Article 10(1) An insurance undertaking that proposes to establish a branch...Article 11. . . . . . . . . ....Article 12Any decision to refuse an authorization shall be accompanied by...Article 12a(1) The competent authorities of the other Member State involved...Section B:Conditions for exercise of businessArticle 13(1) The financial supervision of an insurance undertaking, including that...Article 14The Member State of the branch shall provide that where...Article 15(1) The home Member State shall require every insurance undertaking...Article 15a(1) Member States shall require every insurance undertaking with a...Article 16(1) Each Member State shall require of every insurance undertaking...Article 16a(1) The required solvency margin shall be determined on the...Article 17(1) One third of the required solvency margin as specified...Article 17a(1) The amounts in euro as laid down in Article...Article 17b(1) Each Member State shall require that an insurance undertaking...Article 18(1) Member States shall not prescribe any rules as to...Article 19(1) Each Member State shall require every undertaking whose head...Article 20(1) If an undertaking does not comply with Article 15,...Article 20a(1) Member States shall ensure that the competent authorities have...Article 21(1) Each Member State shall make it possible for an...Section C:Withdrawal of authorizationArticle 22(1) Authorization granted to an insurance undertaking by the competent... Title III A — Rules applicable to agencies or branches established within the Community and belonging to undertakings whose head offices are outside the Community Article 23(1) Each Member State shall make access to the business...Article 24Member States shall require undertakings to establish adequate technical reserves...Article 25(1) Each Member State shall require for agencies or branches...Article 26(1) Any undertaking which has requested or obtained authorization from...Article 27The provisions of Articles 19 and 20 shall also apply...Article 28In the case of a withdrawal of authorization by the...Article 28a(1) Under the conditions laid down by national law, each...Article 29The Community may, by means of agreements concluded pursuant to... Title III B — Rules applicable to subsidiaries of parent undertakings governed by the laws of a third country and to acquisitions of holdings by such parent undertakings Article 29a(1) The competent authorities of the Member States shall inform...Article 29b(1) Member States shall inform the Commission of any general... Title IV —Transitional and other provisionsArticle 30(1) Member States shall allow undertakings referred to in Title...Article 31Member States shall allow agencies or branches referred to in...Article 32During a period which terminates at the time of the... Title V —Final provisionsArticle 33The Commission and the competent authorities of the Member States...Article 34(1) The Commission shall submit to the Council, within six...Article 35Member States shall amend their national provisions to comply with...Article 36Upon notification of this Directive, Member States shall ensure that...Article 37The Annex shall form an integral part of this Directive....Article 38This Directive is addressed to the Member States. ANNEXA.Classification of risks according to classes of insurance 1.Accident (including industrial injury and occupational diseases) 2.Sickness 3.Land vehicles (other than railway rolling stock) 4.Railway rolling stock 5.Aircraft 6.Ships (sea, lake and river and canal vessels) 7.Goods in transit(including merchandise, baggage, and all other goods) 8.Fire and natural forces 9.Other damage to property 10.Motor vehicle liability 11.Aircraft liability 12.Liability for ships (sea, lake and river and canal vessels)...13.General liability 14.Credit 15.Suretyship 16.Miscellaneous financial loss 17.Legal expenses 18.Assistance B.Description of authorizations granted for more than one class of...C.Ancillary risks D.Methods of calculating the equalization reserve for the credit insurance...Method No 1 1.In respect of the risks included in the class of...2.Such reserve shall in each financial year receive 75 % of...Method No 2 1.In respect of the risks included in the class of...2.The minimum amount of the equilization reserve shall be 134 %...3.Such reserve shall in each of the successive financial years...4.Member States may lay down special rules for the calculation...Method No 3 1.An equalization reserve shall be formed for class 14 in...2.The equalization reserve shall be calculated on the basis of...Method No 4 1.An equalization reserve shall be formed for class 14 in...2.The equalization reserve shall be calculated on the basis of... First Council Directive of 24 July 1973 on the coordination of laws, Regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance (73/239/EEC) (repealed)

THE COUNCIL OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Economic Community, and in particular Article 57 (2) thereof;

Having regard to the General Programme for the abolition of restrictions on freedom of establishment, and in particular Title IV C thereof;

Having regard to the proposal from the Commission;

Having regard to the Opinion of the European Parliament;

Having regard to the Opinion of the Economic and Social Committee;

Whereas by virtue of the General Programme the removal of restrictions on the establishment of agencies and branches is, in the case of the direct insurance business, dependent on the coordination of the conditions for the taking-up and pursuit of this business; whereas such coodination should be effected in the first place in respect of direct insurance other than life assurance;

Whereas in order to facilitate the taking-up and pursuit of the business of insurance, it is essential to eliminate certain divergencies which exist between national supervisory legislation; whereas in order to achieve this objective, and at the same time ensure adequate protection for insured and third parties in all the Member States, it is desirable to coordinate, in particular, the provisions relating to the financial guarantees required of insurance undertakings;

Whereas a classification of risks in the different classes of insurance is necessary in order to determine, in particular, the activities subject to a compulsory authorization and the amount of the minimum guarantee fund fixed for the class of insurance concerned;

Whereas it is desirable to exclude from the application of this Directive mutual associations which, by virtue of their legal status, fulfil appropriate conditions as to security and financial guarantees; whereas it is further desirable to exclude certain institutions in several Member States whose business covers a very limited sector only and is restricted by law to a specified territory or to specified persons;

Whereas the various laws contain different rules as to the simultaneous undertaking of health insurance, credit and suretyship insurance and insurance in respect of recourse against third parties and legal defence, whether with one another or with other classes of insurance; whereas continuance of this divergence after the abolition of restrictions on the right of establishment in classes other than life assurance would mean that obstacles to establishment would continue to exist; whereas a solution to this problem must be provided in subsequent coordination to be effected within a relatively short period of time;

Whereas it is necessary to extend supervision in each Member State to all the classes of insurance to which this Directive applies; whereas such supervision is not possible unless the undertaking of such classes of insurance is subject to an official authorization; whereas it is therefore necessary to define the conditions for the granting or withdrawal of such authorization; whereas provision must be made for a right to apply to the courts should an authorization be refused or withdrawn;

Whereas it is desirable to bring the classes of insurance known as transport classes bearing Nos 4, 5, 6, 7 and 12 in Paragraph A of the Annex, and the credit insurance classes bearing Nos 14 and 15 in paragraph A of the Annex, under more flexible rules in view of the continual fluctuations in conditions affecting goods and credit;

Whereas the search for a common method of calculating technical reserves is at present the subject of studies at Community level; whereas it therefore appears to be desirable to reserve the attainment of coordination in this matter, as well as questions relating to the determination of categories of investments and the valuation of assets, for subsequent Directives;

Whereas it is necessary that insurance undertakings should possess, over and above technical reserves of sufficient amount to meet their underwriting liabilities, a supplementary reserve, to be known as the solvency margin, and represented by free assets, in order to provide against business fluctuations; whereas in order to ensure that the requirements imposed for such purposes are determined according to objective criteria, whereby undertakings of the same size are placed on an equal footing as regards competition, it is desirable to provide that such margin shall be related to the overall volume of business of the undertaking and be determined by reference to two indices of security, one based on premiums and the other on claims;

Whereas it is desirable to require a minimum guarantee fund related to the size of the risk in the classes undertaken, in order to ensure that undertakings possess adequate resources when they are set up and that in the subsequent course of business the solvency margin shall in no event fall below a minimum of security;

Whereas it is necessary to make provision for the case where the financial condition of the undertaking becomes such that it is difficult for it to meet its underwriting liabilities;

Whereas the coordinated rules concerning the taking-up and pursuit of the business or direct insurance within the Community should, in principle, apply to all undertakings entering the market and, consequently, also to agencies and branches where the head office of the undertaking is situated outside the Community; whereas it is, nevertheless, desirable as regards the methods of supervision to make special provision with respect to such agencies or branches in view of the fact that the assets of the undertakings to which they belong are situated outside the Community;

Whereas it is, however, desirable to permit the relaxation of such special conditions, while observing the principle that such agencies and branches should not obtain more favourable treatment than undertakings within the Community;

Whereas certain transitional provisions are required in order, in particular, to permit small and medium-sized undertakings already in existence to adapt themselves to the requirements which must be imposed by the Member States in pursuance of this Directive, subject to the application of Article 53 of the Treaty;

Whereas it is important to guarantee the uniform application of coordinated rules and to provide, in this respect, for close collaboration between the Commission and the Member States in this field;

HAS ADOPTED THIS DIRECTIVE:

OJ No 2, 15. 1. 1962, p. 36/62. OJ No C 27, 28. 3. 1968, p. 15. OJ No 158, 18. 7. 1967, p. 1.
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<ContentsTitle Generated="true">This Directive does not apply to: The following kinds of...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-3" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/3" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/3/2005-12-10">
<ContentsNumber>Article 3</ContentsNumber>
<ContentsTitle Generated="true">(1) This Directive shall not apply to mutual associations which...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-4" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/4" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/4/2005-12-10">
<ContentsNumber>Article 4</ContentsNumber>
<ContentsTitle Generated="true">This Directive shall not apply to the following institutions unless...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-5" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/5" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/5/2005-12-10">
<ContentsNumber>Article 5</ContentsNumber>
<ContentsTitle Generated="true">For the purposes of this Directive: ‘Unit of account’ means...</ContentsTitle>
</ContentsItem>
</ContentsEUTitle>
<ContentsEUTitle ContentRef="title-II" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/title/II" RestrictStartDate="2005-12-10" RestrictEndDate="2007-01-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/title/II/2005-12-10">
<ContentsNumber>Title II —</ContentsNumber>
<ContentsTitle>Rules applicable to undertakings whose head offices are situated within the Community</ContentsTitle>
<ContentsEUSection ContentRef="title-II-section-A" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/title/II/section/A" RestrictStartDate="2005-12-10" RestrictEndDate="2007-01-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/title/II/section/A/2005-12-10">
<ContentsNumber>Section A:</ContentsNumber>
<ContentsTitle>Conditions of admission</ContentsTitle>
<ContentsItem ContentRef="article-6" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/6" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/6/2005-12-10">
<ContentsNumber>Article 6</ContentsNumber>
<ContentsTitle Generated="true">The taking up of the business of direct insurance shall...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-7" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/7" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/7/2005-12-10">
<ContentsNumber>Article 7</ContentsNumber>
<ContentsTitle Generated="true">(1) Authorization shall be valid for the entire Community. It...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-8" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/8" RestrictStartDate="2005-12-10" RestrictEndDate="2007-01-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/8/2005-12-10">
<ContentsNumber>Article 8</ContentsNumber>
<ContentsTitle Generated="true">(1) The home Member State shall require every insurance undertaking...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-9" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/9" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/9/2005-12-10">
<ContentsNumber>Article 9</ContentsNumber>
<ContentsTitle Generated="true">The scheme of operations referred to in Article 8 (1)...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-10" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/10" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/10/2005-12-10">
<ContentsNumber>Article 10</ContentsNumber>
<ContentsTitle Generated="true">(1) An insurance undertaking that proposes to establish a branch...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-11" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/11" Status="Repealed" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/11/2005-12-10">
<ContentsNumber>Article 11</ContentsNumber>
<ContentsTitle Generated="true">. . . . . . . . . ....</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-12" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/12" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/12/2005-12-10">
<ContentsNumber>Article 12</ContentsNumber>
<ContentsTitle Generated="true">Any decision to refuse an authorization shall be accompanied by...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-12a" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/12a" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/12a/2005-12-10">
<ContentsNumber>Article 12a</ContentsNumber>
<ContentsTitle Generated="true">(1) The competent authorities of the other Member State involved...</ContentsTitle>
</ContentsItem>
</ContentsEUSection>
<ContentsEUSection ContentRef="title-II-section-B" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/title/II/section/B" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/title/II/section/B/2005-12-10">
<ContentsNumber>Section B:</ContentsNumber>
<ContentsTitle>Conditions for exercise of business</ContentsTitle>
<ContentsItem ContentRef="article-13" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/13" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/13/2005-12-10">
<ContentsNumber>Article 13</ContentsNumber>
<ContentsTitle Generated="true">(1) The financial supervision of an insurance undertaking, including that...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-14" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/14" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/14/2005-12-10">
<ContentsNumber>Article 14</ContentsNumber>
<ContentsTitle Generated="true">The Member State of the branch shall provide that where...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-15" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/15" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/15/2005-12-10">
<ContentsNumber>Article 15</ContentsNumber>
<ContentsTitle Generated="true">(1) The home Member State shall require every insurance undertaking...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-15a" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/15a" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/15a/2005-12-10">
<ContentsNumber>Article 15a</ContentsNumber>
<ContentsTitle Generated="true">(1) Member States shall require every insurance undertaking with a...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-16" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/16" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/16/2005-12-10">
<ContentsNumber>Article 16</ContentsNumber>
<ContentsTitle Generated="true">(1) Each Member State shall require of every insurance undertaking...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-16a" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/16a" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/16a/2005-12-10">
<ContentsNumber>Article 16a</ContentsNumber>
<ContentsTitle Generated="true">(1) The required solvency margin shall be determined on the...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-17" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/17" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/17/2005-12-10">
<ContentsNumber>Article 17</ContentsNumber>
<ContentsTitle Generated="true">(1) One third of the required solvency margin as specified...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-17a" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/17a" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/17a/2005-12-10">
<ContentsNumber>Article 17a</ContentsNumber>
<ContentsTitle Generated="true">(1) The amounts in euro as laid down in Article...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-17b" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/17b" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/17b/2005-12-10">
<ContentsNumber>Article 17b</ContentsNumber>
<ContentsTitle Generated="true">(1) Each Member State shall require that an insurance undertaking...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-18" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/18" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/18/2005-12-10">
<ContentsNumber>Article 18</ContentsNumber>
<ContentsTitle Generated="true">(1) Member States shall not prescribe any rules as to...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-19" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/19" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/19/2005-12-10">
<ContentsNumber>Article 19</ContentsNumber>
<ContentsTitle Generated="true">(1) Each Member State shall require every undertaking whose head...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-20" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/20" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/20/2005-12-10">
<ContentsNumber>Article 20</ContentsNumber>
<ContentsTitle Generated="true">(1) If an undertaking does not comply with Article 15,...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-20a" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/20a" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/20a/2005-12-10">
<ContentsNumber>Article 20a</ContentsNumber>
<ContentsTitle Generated="true">(1) Member States shall ensure that the competent authorities have...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-21" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/21" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/21/2005-12-10">
<ContentsNumber>Article 21</ContentsNumber>
<ContentsTitle Generated="true">(1) Each Member State shall make it possible for an...</ContentsTitle>
</ContentsItem>
</ContentsEUSection>
<ContentsEUSection ContentRef="title-II-section-C" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/title/II/section/C" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/title/II/section/C/2005-12-10">
<ContentsNumber>Section C:</ContentsNumber>
<ContentsTitle>Withdrawal of authorization</ContentsTitle>
<ContentsItem ContentRef="article-22" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/22" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/22/2005-12-10">
<ContentsNumber>Article 22</ContentsNumber>
<ContentsTitle Generated="true">(1) Authorization granted to an insurance undertaking by the competent...</ContentsTitle>
</ContentsItem>
</ContentsEUSection>
</ContentsEUTitle>
<ContentsEUTitle ContentRef="title-III-A" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/title/III/A" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/title/III/A/2005-12-10">
<ContentsNumber>Title III A —</ContentsNumber>
<ContentsTitle> Rules applicable to agencies or branches established within the Community and belonging to undertakings whose head offices are outside the Community </ContentsTitle>
<ContentsItem ContentRef="article-23" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/23" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/23/2005-12-10">
<ContentsNumber>Article 23</ContentsNumber>
<ContentsTitle Generated="true">(1) Each Member State shall make access to the business...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-24" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/24" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/24/2005-12-10">
<ContentsNumber>Article 24</ContentsNumber>
<ContentsTitle Generated="true">Member States shall require undertakings to establish adequate technical reserves...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-25" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/25" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/25/2005-12-10">
<ContentsNumber>Article 25</ContentsNumber>
<ContentsTitle Generated="true">(1) Each Member State shall require for agencies or branches...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-26" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/26" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/26/2005-12-10">
<ContentsNumber>Article 26</ContentsNumber>
<ContentsTitle Generated="true">(1) Any undertaking which has requested or obtained authorization from...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-27" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/27" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/27/2005-12-10">
<ContentsNumber>Article 27</ContentsNumber>
<ContentsTitle Generated="true">The provisions of Articles 19 and 20 shall also apply...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-28" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/28" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/28/2005-12-10">
<ContentsNumber>Article 28</ContentsNumber>
<ContentsTitle Generated="true">In the case of a withdrawal of authorization by the...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-28a" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/28a" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/28a/2005-12-10">
<ContentsNumber>Article 28a</ContentsNumber>
<ContentsTitle Generated="true">(1) Under the conditions laid down by national law, each...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-29" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/29" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/29/2005-12-10">
<ContentsNumber>Article 29</ContentsNumber>
<ContentsTitle Generated="true">The Community may, by means of agreements concluded pursuant to...</ContentsTitle>
</ContentsItem>
</ContentsEUTitle>
<ContentsEUTitle ContentRef="title-III-B" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/title/III/B" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/title/III/B/2005-12-10">
<ContentsNumber>Title III B —</ContentsNumber>
<ContentsTitle> Rules applicable to subsidiaries of parent undertakings governed by the laws of a third country and to acquisitions of holdings by such parent undertakings </ContentsTitle>
<ContentsItem ContentRef="article-29a" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/29a" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/29a/2005-12-10">
<ContentsNumber>Article 29a</ContentsNumber>
<ContentsTitle Generated="true">(1) The competent authorities of the Member States shall inform...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-29b" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/29b" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/29b/2005-12-10">
<ContentsNumber>Article 29b</ContentsNumber>
<ContentsTitle Generated="true">(1) Member States shall inform the Commission of any general...</ContentsTitle>
</ContentsItem>
</ContentsEUTitle>
<ContentsEUTitle ContentRef="title-IV" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/title/IV" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/title/IV/2005-12-10">
<ContentsNumber>Title IV —</ContentsNumber>
<ContentsTitle>Transitional and other provisions</ContentsTitle>
<ContentsItem ContentRef="article-30" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/30" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/30/2005-12-10">
<ContentsNumber>Article 30</ContentsNumber>
<ContentsTitle Generated="true">(1) Member States shall allow undertakings referred to in Title...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-31" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/31" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/31/2005-12-10">
<ContentsNumber>Article 31</ContentsNumber>
<ContentsTitle Generated="true">Member States shall allow agencies or branches referred to in...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-32" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/32" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/32/2005-12-10">
<ContentsNumber>Article 32</ContentsNumber>
<ContentsTitle Generated="true">During a period which terminates at the time of the...</ContentsTitle>
</ContentsItem>
</ContentsEUTitle>
<ContentsEUTitle ContentRef="title-V" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/title/V" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/title/V/2005-12-10">
<ContentsNumber>Title V —</ContentsNumber>
<ContentsTitle>Final provisions</ContentsTitle>
<ContentsItem ContentRef="article-33" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/33" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/33/2005-12-10">
<ContentsNumber>Article 33</ContentsNumber>
<ContentsTitle Generated="true">The Commission and the competent authorities of the Member States...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-34" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/34" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/34/2005-12-10">
<ContentsNumber>Article 34</ContentsNumber>
<ContentsTitle Generated="true">(1) The Commission shall submit to the Council, within six...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-35" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/35" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/35/2005-12-10">
<ContentsNumber>Article 35</ContentsNumber>
<ContentsTitle Generated="true">Member States shall amend their national provisions to comply with...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-36" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/36" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/36/2005-12-10">
<ContentsNumber>Article 36</ContentsNumber>
<ContentsTitle Generated="true">Upon notification of this Directive, Member States shall ensure that...</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-37" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/37" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/37/2005-12-10">
<ContentsNumber>Article 37</ContentsNumber>
<ContentsTitle Generated="true">The Annex shall form an integral part of this Directive....</ContentsTitle>
</ContentsItem>
<ContentsItem ContentRef="article-38" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/article/38" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/article/38/2005-12-10">
<ContentsNumber>Article 38</ContentsNumber>
<ContentsTitle Generated="true">This Directive is addressed to the Member States. </ContentsTitle>
</ContentsItem>
</ContentsEUTitle>
<ContentsSchedules RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I.">
<ContentsSchedule ContentRef="annex" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/2005-12-10">
<ContentsNumber>ANNEX</ContentsNumber>
<ContentsDivision ContentRef="annex-division-A" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/2005-12-10">
<ContentsNumber>A.</ContentsNumber>
<ContentsTitle Generated="true">Classification of risks according to classes of insurance </ContentsTitle>
<ContentsDivision ContentRef="annex-division-A-division-1" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/1" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/1/2005-12-10">
<ContentsNumber>1.</ContentsNumber>
<ContentsTitle Generated="true">Accident (including industrial injury and occupational diseases) </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-2" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/2" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/2/2005-12-10">
<ContentsNumber>2.</ContentsNumber>
<ContentsTitle Generated="true">Sickness </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-3" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/3" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/3/2005-12-10">
<ContentsNumber>3.</ContentsNumber>
<ContentsTitle Generated="true">Land vehicles (other than railway rolling stock) </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-4" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/4" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/4/2005-12-10">
<ContentsNumber>4.</ContentsNumber>
<ContentsTitle Generated="true">Railway rolling stock </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-5" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/5" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/5/2005-12-10">
<ContentsNumber>5.</ContentsNumber>
<ContentsTitle Generated="true">Aircraft </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-6" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/6" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/6/2005-12-10">
<ContentsNumber>6.</ContentsNumber>
<ContentsTitle Generated="true">Ships (sea, lake and river and canal vessels) </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-7" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/7" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/7/2005-12-10">
<ContentsNumber>7.</ContentsNumber>
<ContentsTitle Generated="true">Goods in transit(including merchandise, baggage, and all other goods) </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-8" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/8" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/8/2005-12-10">
<ContentsNumber>8.</ContentsNumber>
<ContentsTitle Generated="true">Fire and natural forces </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-9" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/9" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/9/2005-12-10">
<ContentsNumber>9.</ContentsNumber>
<ContentsTitle Generated="true">Other damage to property </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-10" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/10" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/10/2005-12-10">
<ContentsNumber>10.</ContentsNumber>
<ContentsTitle Generated="true">Motor vehicle liability </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-11" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/11" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/11/2005-12-10">
<ContentsNumber>11.</ContentsNumber>
<ContentsTitle Generated="true">Aircraft liability </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-12" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/12" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/12/2005-12-10">
<ContentsNumber>12.</ContentsNumber>
<ContentsTitle Generated="true">Liability for ships (sea, lake and river and canal vessels)...</ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-13" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/13" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/13/2005-12-10">
<ContentsNumber>13.</ContentsNumber>
<ContentsTitle Generated="true">General liability </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-14" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/14" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/14/2005-12-10">
<ContentsNumber>14.</ContentsNumber>
<ContentsTitle Generated="true">Credit </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-15" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/15" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/15/2005-12-10">
<ContentsNumber>15.</ContentsNumber>
<ContentsTitle Generated="true">Suretyship </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-16" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/16" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/16/2005-12-10">
<ContentsNumber>16.</ContentsNumber>
<ContentsTitle Generated="true">Miscellaneous financial loss </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-17" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/17" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/17/2005-12-10">
<ContentsNumber>17.</ContentsNumber>
<ContentsTitle Generated="true">Legal expenses </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-A-division-18" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/A/division/18" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/A/division/18/2005-12-10">
<ContentsNumber>18.</ContentsNumber>
<ContentsTitle Generated="true">Assistance </ContentsTitle>
</ContentsDivision>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-B" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/B" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/B/2005-12-10">
<ContentsNumber>B.</ContentsNumber>
<ContentsTitle Generated="true">Description of authorizations granted for more than one class of...</ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-C" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/C" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/C/2005-12-10">
<ContentsNumber>C.</ContentsNumber>
<ContentsTitle Generated="true">Ancillary risks </ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/2005-12-10">
<ContentsNumber>D.</ContentsNumber>
<ContentsTitle Generated="true">Methods of calculating the equalization reserve for the credit insurance...</ContentsTitle>
<ContentsDivision ContentRef="annex-division-D-division-1" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/1" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/1/2005-12-10">
<ContentsTitle Generated="true">Method No 1 </ContentsTitle>
<ContentsDivision ContentRef="annex-division-D-division-1-division-1" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/1/division/1" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/1/division/1/2005-12-10">
<ContentsNumber>1.</ContentsNumber>
<ContentsTitle Generated="true">In respect of the risks included in the class of...</ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D-division-1-division-2" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/1/division/2" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/1/division/2/2005-12-10">
<ContentsNumber>2.</ContentsNumber>
<ContentsTitle Generated="true">Such reserve shall in each financial year receive 75 % of...</ContentsTitle>
</ContentsDivision>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D-division-2" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/2" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/2/2005-12-10">
<ContentsTitle Generated="true">Method No 2 </ContentsTitle>
<ContentsDivision ContentRef="annex-division-D-division-2-division-1" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/2/division/1" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/2/division/1/2005-12-10">
<ContentsNumber>1.</ContentsNumber>
<ContentsTitle Generated="true">In respect of the risks included in the class of...</ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D-division-2-division-2" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/2/division/2" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/2/division/2/2005-12-10">
<ContentsNumber>2.</ContentsNumber>
<ContentsTitle Generated="true">The minimum amount of the equilization reserve shall be 134 %...</ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D-division-2-division-3" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/2/division/3" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/2/division/3/2005-12-10">
<ContentsNumber>3.</ContentsNumber>
<ContentsTitle Generated="true">Such reserve shall in each of the successive financial years...</ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D-division-2-division-4" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/2/division/4" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/2/division/4/2005-12-10">
<ContentsNumber>4.</ContentsNumber>
<ContentsTitle Generated="true">Member States may lay down special rules for the calculation...</ContentsTitle>
</ContentsDivision>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D-division-3" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/3" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/3/2005-12-10">
<ContentsTitle Generated="true">Method No 3 </ContentsTitle>
<ContentsDivision ContentRef="annex-division-D-division-3-division-1" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/3/division/1" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/3/division/1/2005-12-10">
<ContentsNumber>1.</ContentsNumber>
<ContentsTitle Generated="true">An equalization reserve shall be formed for class 14 in...</ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D-division-3-division-2" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/3/division/2" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/3/division/2/2005-12-10">
<ContentsNumber>2.</ContentsNumber>
<ContentsTitle Generated="true">The equalization reserve shall be calculated on the basis of...</ContentsTitle>
</ContentsDivision>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D-division-4" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/4" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/4/2005-12-10">
<ContentsTitle Generated="true">Method No 4 </ContentsTitle>
<ContentsDivision ContentRef="annex-division-D-division-4-division-1" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/4/division/1" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/4/division/1/2005-12-10">
<ContentsNumber>1.</ContentsNumber>
<ContentsTitle Generated="true">An equalization reserve shall be formed for class 14 in...</ContentsTitle>
</ContentsDivision>
<ContentsDivision ContentRef="annex-division-D-division-4-division-2" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/annex/division/D/division/4/division/2" RestrictStartDate="2005-12-10" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I." DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/annex/division/D/division/4/division/2/2005-12-10">
<ContentsNumber>2.</ContentsNumber>
<ContentsTitle Generated="true">The equalization reserve shall be calculated on the basis of...</ContentsTitle>
</ContentsDivision>
</ContentsDivision>
</ContentsDivision>
</ContentsSchedule>
</ContentsSchedules>
</Contents>
<EURetained>
<EUPrelims DocumentURI="http://www.legislation.gov.uk/eudr/1973/239/introduction/2005-12-10" IdURI="http://www.legislation.gov.uk/id/eudr/1973/239/introduction" RestrictStartDate="2005-04-13" RestrictEndDate="2012-11-01" RestrictExtent="E+W+S+N.I.">
<MultilineTitle>
<Text>
<Uppercase>First Council Directive</Uppercase>
</Text>
<Text>of 24 July 1973</Text>
<Text>on the coordination of laws, Regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance</Text>
<Text>(73/239/EEC) (repealed)</Text>
</MultilineTitle>
<EUPreamble>
<P>
<Text>THE COUNCIL OF THE EUROPEAN COMMUNITIES,</Text>
</P>
<P>
<Text>Having regard to the Treaty establishing the European Economic Community, and in particular Article 57 (2) thereof;</Text>
</P>
<P>
<Text>
Having regard to the General Programme
<FootnoteRef Ref="f00001"/>
for the abolition of restrictions on freedom of establishment, and in particular Title IV C thereof;
</Text>
</P>
<P>
<Text>Having regard to the proposal from the Commission;</Text>
</P>
<P>
<Text>
Having regard to the Opinion of the European Parliament
<FootnoteRef Ref="f00002"/>
;
</Text>
</P>
<P>
<Text>
Having regard to the Opinion of the Economic and Social Committee
<FootnoteRef Ref="f00003"/>
;
</Text>
</P>
<P>
<Text>Whereas by virtue of the General Programme the removal of restrictions on the establishment of agencies and branches is, in the case of the direct insurance business, dependent on the coordination of the conditions for the taking-up and pursuit of this business; whereas such coodination should be effected in the first place in respect of direct insurance other than life assurance;</Text>
</P>
<P>
<Text>Whereas in order to facilitate the taking-up and pursuit of the business of insurance, it is essential to eliminate certain divergencies which exist between national supervisory legislation; whereas in order to achieve this objective, and at the same time ensure adequate protection for insured and third parties in all the Member States, it is desirable to coordinate, in particular, the provisions relating to the financial guarantees required of insurance undertakings;</Text>
</P>
<P>
<Text>Whereas a classification of risks in the different classes of insurance is necessary in order to determine, in particular, the activities subject to a compulsory authorization and the amount of the minimum guarantee fund fixed for the class of insurance concerned;</Text>
</P>
<P>
<Text>Whereas it is desirable to exclude from the application of this Directive mutual associations which, by virtue of their legal status, fulfil appropriate conditions as to security and financial guarantees; whereas it is further desirable to exclude certain institutions in several Member States whose business covers a very limited sector only and is restricted by law to a specified territory or to specified persons;</Text>
</P>
<P>
<Text>Whereas the various laws contain different rules as to the simultaneous undertaking of health insurance, credit and suretyship insurance and insurance in respect of recourse against third parties and legal defence, whether with one another or with other classes of insurance; whereas continuance of this divergence after the abolition of restrictions on the right of establishment in classes other than life assurance would mean that obstacles to establishment would continue to exist; whereas a solution to this problem must be provided in subsequent coordination to be effected within a relatively short period of time;</Text>
</P>
<P>
<Text>Whereas it is necessary to extend supervision in each Member State to all the classes of insurance to which this Directive applies; whereas such supervision is not possible unless the undertaking of such classes of insurance is subject to an official authorization; whereas it is therefore necessary to define the conditions for the granting or withdrawal of such authorization; whereas provision must be made for a right to apply to the courts should an authorization be refused or withdrawn;</Text>
</P>
<P>
<Text>Whereas it is desirable to bring the classes of insurance known as transport classes bearing Nos 4, 5, 6, 7 and 12 in Paragraph A of the Annex, and the credit insurance classes bearing Nos 14 and 15 in paragraph A of the Annex, under more flexible rules in view of the continual fluctuations in conditions affecting goods and credit;</Text>
</P>
<P>
<Text>Whereas the search for a common method of calculating technical reserves is at present the subject of studies at Community level; whereas it therefore appears to be desirable to reserve the attainment of coordination in this matter, as well as questions relating to the determination of categories of investments and the valuation of assets, for subsequent Directives;</Text>
</P>
<P>
<Text>Whereas it is necessary that insurance undertakings should possess, over and above technical reserves of sufficient amount to meet their underwriting liabilities, a supplementary reserve, to be known as the solvency margin, and represented by free assets, in order to provide against business fluctuations; whereas in order to ensure that the requirements imposed for such purposes are determined according to objective criteria, whereby undertakings of the same size are placed on an equal footing as regards competition, it is desirable to provide that such margin shall be related to the overall volume of business of the undertaking and be determined by reference to two indices of security, one based on premiums and the other on claims;</Text>
</P>
<P>
<Text>Whereas it is desirable to require a minimum guarantee fund related to the size of the risk in the classes undertaken, in order to ensure that undertakings possess adequate resources when they are set up and that in the subsequent course of business the solvency margin shall in no event fall below a minimum of security;</Text>
</P>
<P>
<Text>Whereas it is necessary to make provision for the case where the financial condition of the undertaking becomes such that it is difficult for it to meet its underwriting liabilities;</Text>
</P>
<P>
<Text>Whereas the coordinated rules concerning the taking-up and pursuit of the business or direct insurance within the Community should, in principle, apply to all undertakings entering the market and, consequently, also to agencies and branches where the head office of the undertaking is situated outside the Community; whereas it is, nevertheless, desirable as regards the methods of supervision to make special provision with respect to such agencies or branches in view of the fact that the assets of the undertakings to which they belong are situated outside the Community;</Text>
</P>
<P>
<Text>Whereas it is, however, desirable to permit the relaxation of such special conditions, while observing the principle that such agencies and branches should not obtain more favourable treatment than undertakings within the Community;</Text>
</P>
<P>
<Text>Whereas certain transitional provisions are required in order, in particular, to permit small and medium-sized undertakings already in existence to adapt themselves to the requirements which must be imposed by the Member States in pursuance of this Directive, subject to the application of Article 53 of the Treaty;</Text>
</P>
<P>
<Text>Whereas it is important to guarantee the uniform application of coordinated rules and to provide, in this respect, for close collaboration between the Commission and the Member States in this field;</Text>
</P>
<P>
<Text>HAS ADOPTED THIS DIRECTIVE:</Text>
</P>
</EUPreamble>
</EUPrelims>
</EURetained>
<Footnotes>
<Footnote id="f00001">
<FootnoteText>
<Para>
<Text>
<Citation id="c00002" Class="EuropeanUnionOfficialJournal" Year="1962" URI="https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.P_.1962.002.01.0036.01.ENG" Date="1962-01-15">OJ No 2, 15. 1. 1962, p. 36/62</Citation>
.
</Text>
</Para>
</FootnoteText>
</Footnote>
<Footnote id="f00002">
<FootnoteText>
<Para>
<Text>
<Citation id="c00003" Class="EuropeanUnionOfficialJournal" Year="1968" URI="https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.C_.1968.027.01.0015.01.ENG" Date="1968-03-28">OJ No C 27, 28. 3. 1968, p. 15</Citation>
.
</Text>
</Para>
</FootnoteText>
</Footnote>
<Footnote id="f00003">
<FootnoteText>
<Para>
<Text>
<Citation id="c00004" Class="EuropeanUnionOfficialJournal" Year="1967" URI="https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.P_.1967.158.01.0001.01.ENG" Date="1967-07-18">OJ No 158, 18. 7. 1967, p. 1</Citation>
.
</Text>
</Para>
</FootnoteText>
</Footnote>
</Footnotes>
</Legislation>