Aid for the payment of insurance premiums and for financial contributions to mutual funds
Article 22
1. Aid for the payment of insurance premiums and for financial contributions to mutual funds fulfilling the conditions laid down in Chapter I of this Regulation shall be compatible with the internal market within the meaning of Article 107(3), point (c), TFEU and shall be exempted from the notification requirement of Article 108(3) thereof provided that: (a) the aid aims to contribute to premiums for insurances or mutual funds or which pay financial compensation to fishers for economic losses caused by behaviour of the protected animals, public health crises, adverse climatic events which can be assimilated to a natural disaster or by environmental incidents or for the rescue costs for fishers or fishing vessels in the case of accidents at sea during their fishing activities; (b) the combination of financial compensation paid by mutual funds under this Article with other Union or national instruments or insurance schemes does not lead to overcompensation exceeding the economic loss incurred; (c) the insurance does not require or specify the type or quantity of future production and the aid is not limited to insurance provided by a specific insurance company or group of companies; and (d) the mutual fund is accredited by the competent authority of a Member State in accordance with national laws. 2. For the purposes of this Article: (a) public health crises, adverse climatic events which can be assimilated to a natural disaster, environmental incidents or accidents at sea referred to in paragraph 1, point (a), shall be those that are formally recognised by the competent authority of the Member State as having occurred; (b) the term ‘mutual fund’ means a scheme accredited by the Member State, in accordance with its national law, which enables affiliated fishers to insure themselves, whereby compensation payments are made to affiliated fishers for economic losses caused by the events listed in paragraph 1, point (a). The mutual fund shall have a transparent policy towards payments into and withdrawals from the fund and have clear rules attributing responsibilities for any debts incurred. 3. The maximum aid intensity shall be limited to: (a) 50 % of the amounts paid by the mutual fund as financial compensation to fishers; (b) 100 % of the administrative costs of setting up the mutual fund; (c) 70 % of the costs of the insurance premium; (d) 50 % of the initial capitalisation of the fund. 4. The contributions referred to in paragraph 1, point (a), shall only be granted to cover losses caused by public health crises, adverse climatic events which can be assimilated to a natural disaster, environmental incidents or accidents at sea.