Regulatory part

The administrative authorisation provided for in Article L. 321-1 is granted by the Autorité de contrôle prudentiel et de résolution. For the purposes of granting this authorisation, insurance operations are classified into classes and sub-classes as follows: 1. Accidents (including accidents at work and occupational diseases) : a) Lump-sum benefits ; b) Indemnity benefits ; c) Combinations ; d) Persons transported. 2. Sickness : a) Flat-rate benefits ; b) Compensatory…

Each activity carried out by an insurance undertaking which undertakes both the risks referred to in 1° and 2° of Article L. 310-1 is managed separately, and organised in such a way that the life insurance activity and the non-life insurance activity are kept separate. Where a non-life insurance undertaking has financial, commercial or administrative links with a life insurance undertaking, the Autorité de contrôle prudentiel et de résolution shall…

When , pursuant to Article L. 321-1-2, the Autorité de contrôle prudentiel et de résolution consults the authority responsible for supervising credit or investment institutions in the Member State concerned, that authority has one month in which to submit its observations. At its request, this period may be extended by one month.

Any undertaking obtaining administrative approval for a principal risk belonging to a class mentioned in 1 to 18 of article R. 321-1 may also insure risks included in another class without administrative approval being required for these risks, when they are linked to the principal risk, concern the object covered against the principal risk and are guaranteed by the contract which covers the principal risk. However, the risks included in…

Any decision to refuse full or partial administrative authorisation must be substantiated and notified by the Autorité de contrôle prudentiel et de résolution to the company concerned, after the latter has been given formal notice by registered letter to submit its observations in writing within a fortnight. The undertaking may appeal to the Conseil d’Etat within two months of being notified of the total or partial refusal of authorisation, or…

Any decision to grant or refuse administrative authorisation shall be notified by the Autorité de contrôle prudentiel et de résolution to the European Insurance and Occupational Pensions Authority.

Undertakings authorised to operate in the classes mentioned in 20 and 22 of article R. 321-1 may be authorised to provide directly, as ancillary insurance forming part of a life insurance contract and subject to payment of a separate premium or contribution, supplementary insurance against the risks of bodily injury including occupational disability, accidental death or invalidity following an accident or illness. In this case, the contract must specify that…