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Council Directive 92/49/EEC (repealed)Show full title
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other than life assurance and amending Directives 73/239/EEC and 88/357/EEC (third non-life insurance Directive) (repealed)
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- Revised 01/11/20120.44 MB
- Revised 21/03/20080.18 MB
- Revised 21/09/20070.18 MB
- Revised 10/12/20050.15 MB
- Revised 13/04/20050.16 MB
- Revised 11/02/20030.15 MB
- Revised 17/11/20000.22 MB
- Revised 07/08/19950.29 MB
- Revised 02/07/19920.28 MB
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Article 9U.K.
Article 13 of Directive 73/239/EEC shall be replaced by the following:
‘Article 13
1.The financial supervision of an insurance undertaking, including that of the business it carries on either through branches or under the freedom to provide services, shall be the sole responsibility of the home Member State.
2.That financial supervision shall include verification, with respect to the insurance undertaking's entire business, of its state of solvency, of the establishment of technical provisions and of the assets covering them in accordance with the rules laid down or practices followed in the home Member State under provisions adopted at Community level.
Where the undertaking in question is authorized to cover the risks classified in class 18 in point A of the Annex, supervision shall extend to monitoring of the technical resources which the undertaking has at its disposal for the purpose of carrying out the assistance operations it has undertaken to perform, where the law of the home Member State provides for the monitoring of such resources.
3.The competent authorities of the home Member State shall require every insurance undertaking to have sound administrative and accounting procedures and adequate internal control mechanisms.’
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