Article 13(27)

Definitions

Regarding the definition of large risks option to add to the category of risks classified under classes of non-life insurance 3, 8, 9, 10, 13 and 16 in Part A of Annex I, the risks insured by professional associations, joint ventures or temporary groupings

Article 15(2), sub-paragraph 3

Scope of authorisation

Option to grant authorisation for two or more classes of direct insurance

Article 15(3), sub-paragraph 1

Scope of authorisation

Option to grant authorisation for non-life insurance for groups of classes listed in Part B of Annex I

Article 17(2)

Legal form of insurance or reinsurance undertaking

Option to set up undertakings of a form governed by public law provided that such bodies have insurance or reinsurance operations as their object, under conditions equivalent to those under which undertakings governed by private law operate

Article 21(1), sub-paragraph 2

Policy conditions and scales of premiums

Option to require in life insurance systematic notification of the technical bases used for calculating scales of premiums and technical provisions for the purpose of verifying compliance with actuarial principles

Article 21(3)

Policy conditions and scales of premiums

Option to subject undertakings seeking or having obtained authorisation for assistance activity to checks on their resources in staff and equipment

Article 21(4)

Policy conditions and scales of premiums

Option to require approval of the memorandum and articles of association or any other documents necessary for normal supervision

Article 51(2), sub-paragraph 3

Report on solvency and financial condition: contents

Option allowing to exempt during a transitional period, (re) insurance undertakings from the requirement concerning the separate disclosure of the capital add-on or the impact of the use of undertaking-specific parameters where their use is required by the supervisory authority.

Article 57(1)

Acquisitions

Where Member States apply a threshold of one third for the notification to supervisory authorities of acquisitions in accordance with Directive 2004/109/EC, option to continue to apply that threshold, instead of a threshold of 30 %.

Article 57(2)

Acquisitions

Where Member States apply a threshold of one third for the notification to supervisory authorities of disposals in accordance with Directive 2004/109/EC, option to continue to apply that threshold, instead of a threshold of 30 %.

Article 73(2)

Pursuit of life and non-life insurance activity

Option to allow the following:

1. (i)

   life insurance undertakings to obtain authorisation for non-life insurance activity for accident and sickness risks;

2. (ii)

   non-life undertakings authorised solely for writing accident and sickness risks to obtain authorisation to pursue life insurance activity.

First sentence of paragraph 3 of Article 73

Pursuit of life and non-life insurance activity

Option allowing to provide for compliance of the undertakings referred to in Article 73(2) with accounting rules governing life insurance undertakings for all of their activities

Second sentence of paragraph 3 of Article 73

Pursuit of life and non-life insurance activity

Option allowing within a winding-up procedure to apply the rules for life insurance activities to accident and sickness activities pursued by the undertakings under Article 73(2)

Article 73(5), sub-paragraph 2

Pursuit of life and non-life insurance activity

Option allowing to require putting an end to the simultaneous pursuit of life and non-life activities within a certain period

Article 77d(1)

Volatility adjustment to the relevant risk-free interest rate term structure

Option allowing to require prior approval by the supervisory authority to apply the volatility adjustment to the risk-free interest rate term structure to calculate the best estimate referred to in Article 77(2)

Article 148(2)

Notification by the home Member State

Option to require non-life insurance undertakings covering motor vehicle liability risks under the freedom to provide services to submit certain information

Article 150(3)

Compulsory insurance on third party motor vehicle liability

Option for the host Member State to require insurance undertakings providing services to comply with rules concerning covering aggravated risks provided that they apply to non-life insurance undertakings

Article 152(4)

Representative

Option allowing to approve a claims representative appointed according to Article 4 of Directive 2000/26/EC as a representative under Article 152(1)

Article 163(3)

Scheme of operations of the branch

Option allowing to require from insurance undertakings to submit systematic notification of the technical basis used for calculating premiums and technical provisions in regard to life insurance

Article 169(2)

Separation of non-life and life business

Option allowing composite branches to pursue life and non-life insurance activities provided that each of the activities is separately managed

Article 169(3), sub-paragraph 2

Separation of non-life and life business

Option regarding branches which on the dates referred to in the first sub paragraph of Article 73(5) pursed solely life insurance activity within the Member State, but which head office situated outside of the community simultaneously pursues life and non-life activities and subsequently wishes to pursue non-life insurance activity in that Member State.

Article 179(4), sub-paragraph 2

Related obligations

Option allowing to require the issue of a declaration that an insurance contract complies with specific provisions relating to compulsory non-life insurance

Article 181(1), sub-paragraph 2

Non-life insurance

Option to require non-systematic notification of policy conditions and other documents to verify compliance with national provisions concerning insurance contracts

Article 181(2), sub-paragraph 1

Non-life insurance

Option allowing to require communication of the general and specific conditions of compulsory insurance to the supervisory authority before circulating them

Article 182, sub-paragraph 2

Life insurance

Option allowing to require systematic communication of the technical bases used for calculating scales of premiums and technical provisions to verify compliance with actuarial principles

Article 184(2), sub-paragraph 2

Additional information in the case of non-life insurance offered under the right of establishment or the freedom to provide services

Option to require for the name and address of the representative of a non-life insurance undertaking to appear in an insurance contract or other document granting cover

Article 185(7)

Information for policy holders

Option allowing to require the provision of additional information to ensure that policyholders understand the essential elements of the life insurance commitment

Article 186(2)

Cancellation period

Option allowing to not apply a cancellation period for policy holders in specific cases

Article 189

Participation in national guarantee schemes

Option allowing to require compulsory participation of non-life insurance undertakings in host Member State guarantee schemes

Article 197, sub-paragraph 1

Activities similar to tourist assistance

Option allowing to provide for assistance to persons in difficulties in circumstances other than those laid down in Article 2(2)

Article 198(2)(c)

Scope of this section

Option allowing to not apply the requirements for legal expenses insurance to the activity of legal expenses insurance undertaken by an assistance insurer under specific circumstances

Article 199

Separate contracts

Option allowing to request an explicit specification of the amount of the premium for legal expenses within the relevant contract

Article 200(1), sub-paragraph 1

Management of claims

Option allowing to choose between three methods for the management of claims

Article 200(3), sub-paragraph 2

Management of claims

Option allowing to extend the prohibition on simultaneous pursuit of the same or similar activity in a linked insurance undertaking to members of the administrative, management or supervisory body of the legal expenses insurance undertaking

Article 202(1)

Exception to the free choice of lawyer

Option allowing the exemption from the free choice of lawyer rule in legal expenses insurance subject to certain conditions

Article 206(1)

Health insurance as an alternative to social security

Option allowing to require: (a) compliance of health insurance contracts with specific legal provisions to protect the general good in the class of sickness insurance; and (b) communication to the supervisory authorities of the general and specific conditions of sickness insurance

Article 206(2), sub-paragraph 1

Health insurance as an alternative to social security

Option allowing to require the operation of an alternative health insurance system on a technical basis similar to that of life insurance subject to specific conditions

Article 207

Compulsory insurance against accidents at work

Option allowing to require compliance of undertakings offering compulsory insurance against accidents at work with specific provisions of national law of the host Member State

Article 216(1), sub-paragraph 1

Ultimate parent undertaking at national level

Option allowing for supervisory discretion to apply group supervision to an ultimate parent undertaking at national level

Article 225, sub-paragraph 2

Related insurance and reinsurance undertakings

Option allowing to require taking into account the Solvency Capital Requirements and the eligible own funds in respect of related undertakings with a head office in another Member State, as laid down in that Member State, for the purposes of the group solvency calculation

Article 227(1), sub-paragraph 2

Related third-country insurance and reinsurance undertakings

Option allowing to require taking into account the Solvency Capital Requirements and the eligible own funds in respect of related undertakings with a head office in an equivalent solvency regime third country, as laid down in that third country

Article 275(1)

Treatment of insurance claims

Option to choose between two methods or a combination thereof to ensure that insurance claims take precedence over other claims against an insurance undertaking

Article 275(2)

Treatment of insurance claims

Option to provide for the precedence of expenses arising from winding-up procedures over insurance claims wholly or in part

Article 276(2), sub-paragraph 2

Special register

Option to require a single register to be kept by insurance undertakings covering life and accident and sickness risks

Article 277

Subrogation to a guarantee scheme

Option to provide for the non-application of Article 275(1) to claims by insurance creditors where they have been subrogated to a national guarantee scheme

Article 279(2), sub-paragraph 2

Withdrawal of the authorisation

Option to provide that the pursuit of some activities during winding-up proceedings are subject to the consent and the supervision of the supervisory authority of the home Member State

Article 304(1)

Duration-based equity risk sub-module

Option to authorise life insurance undertakings to apply a duration-based equity risk sub-module under certain conditions

Article 305(1)

Derogations and abolition of restrictive measures

Option allowing for the granting of exemptions of non-life undertakings with certain maximum premium income which did not meet solvency requirements on 31 January 1975 from the requirement to establish a minimum guarantee fund

Article 308b(15)

Transitional measures

Option allowing to continue to apply the laws, regulations and administrative provisions that have been adopted with a view to complying with Articles 1 to 19, 27 to 30, 32 to 35 and 37 to 67 of Directive 2002/83/EC until 31 December 2019

Article 308b(16)

Transitional measures

Option allowing the ultimate parent insurance or reinsurance undertaking, during a period until 31 March 2022, to apply for the approval of an internal group model applicable to a part of a group