SCHEDULES

SCHEDULE 2G RECOGNITION IN OTHER EEA STATES OF UK INSURERS

PART IV SUPPLEMENTAL

Interpretation

13

(1)

In this Schedule—

“direct insurance business” means insurance business other than reinsurance business;

“health insurance risks”, in relation to a member State, means risks falling within class 2 of Schedule 2 to this Act (sickness) where—

(a)

insurance contracts covering those risks serve as a partial or complete alternative to the health cover provided by the statutory social security system in that State; and

(b)

the law of that State requires such contracts to be operated on a technical basis similar to life assurance in accordance with all the conditions listed in the first sub-paragraph of Article 54(2) of the third general insurance Directive;

“national bureau”, in relation to a member State, means a professional organisation—

(a)

which has been constituted in that State in accordance with Recommendation No 5 adopted on 25th January 1949 by the Road Transport Sub-committee of the Inland Transport Committee of the United Nations Economic Commission for Europe; and

(b)

which groups together insurance undertakings which in that State are authorised to conduct the business of motor vehicle liability insurance;

“national guarantee fund”, in relation to a member State, means a body—

(a)

which has been set up or authorised in that State in accordance with Article 1(4) of Council Directive 84/5/EEC F1; and

(b)

which provides compensation for damage to property or personal injuries caused by unidentified vehicles or vehicles for which the insurance obligation provided for in Article 1(1) of that Directive has not been satisfied;

UK insurer” means a UK company or a member of Lloyd’s.

(2)

In this Schedule—

(a)

references in Part I to the provision of insurance in a member State other than the United Kingdom are references to the covering (otherwise than by way of reinsurance) of a risk or commitment situated in that member State through an establishment in another member State;

(b)

references in Part II to the provision of insurance in an EFTA State are references to the covering (otherwise than by way of reinsurance) of a risk or commitment situated in that EFTA State through an establishment in another EEA State;

(c)

references in Part III to the provision of insurance in the United Kingdom are references to the covering (otherwise than by way of reinsurance) of a risk or commitment situated in the United Kingdom—

(i)

through an establishment in another member State; or

(ii)

through an establishment in an EFTA State.

(3)

In sub-paragraph 2(b) and (c)(ii) above—

(a)

references to a risk do not include a risk falling within any of the following classes of Schedule 2 to this Act (general business), namely—

  • class 1, so far as it relates to accidents at work;

  • classes 9 and 13, so far as they relate to the compulsory insurance of building works;

  • class 13, so far as it relates to nuclear civil liability and pharmaceutical product liability; and

(b)

references to a commitment do not include a commitment falling within any of classes VII, VIII and IX of Schedule 1 to this Act (long term insurance).