The Insurance Companies (Legal Expenses Insurance) (Application for Authorisation) Regulations 1990

• Citation: S.I. 1990/1160
• Sections: 15

Section 1 Citation and commencement

These Regulations may be cited as the Insurance Companies (Legal Expenses Insurance) (Application for Authorisation) Regulations 1990 and shall come into force on 21st June 1990.

Section 2 Information required in certain cases where new authorisation sought

(1) These Regulations apply where an insurance company—

(a) is authorised to carry on one or more classes of general insurance business other than class 17 (legal expenses insurance) and by virtue of that authorisation effects and carries out (otherwise than by way of reinsurance) contracts which contain related and subsidiary provisions within class 17, and

(b) as a result of the Insurance Companies (Legal Expenses Insurance) Regulations 1990 will, as from 1st July 1990, require authorisation for class 17 in order to carry out and effect such contracts.

(2) If in such a case the insurance company applies before 1st July 1990 for authorisation for class 17 and re-authorisation for the classes of business which it is already authorised to carry on, the information to be submitted pursuant to section 5(1) of the Insurance Companies Act 1982 may (instead of that required by regulation 29 of and Schedule 5 to the Insurance Companies Regulations 1981 be that specified in the Schedule to these Regulations.

(3) In the Schedule—

Part I is appropriate for a company whose head office is in the United Kingdom, Part II is appropriate for a company whose head office is in a member State other than the United Kingdom, andPart III is appropriate for a company whose head office is not in a member State.

Section 1 The Company

Name of company applying for authorisation, and name in which present authorisation was granted if different.

Section 1 The company

Name of company applying for authorisation, and name in which present authorisation was granted if different.

Section 1 The company

Name of company applying for authorisation, and name in which present authorisation was granted if different.

Section 2 Authorisations to be continued

Particulars of classes of insurance business for which the company is already authorised in the United Kingdom and which it wishes to be included in the new authorisation.

Section 2 Authorisations to be continued

Particulars of classes of insurance business for which the company is already authorised in the United Kingdom and which it wishes to be included in the new authorisation.

Section 2 Authorisations to be continued

Particulars of classes of insurance business for which the company is already authorised in the United Kingdom and which it wishes to be included in the new authorisation.

Section 3 Evidence of carrying on of relevant business

Copies of documents evidencing that the company effects and carries out contracts the principal object of which is within a class of general business other than class 17 and which contain related and subsidiary provisions within class 17.

Section 3 Evidence of carrying on of relevant business

Copies of documents evidencing that the company effects and carries out in the United Kingdom contracts the principal object of which is within a class of general business other than class 17 and which contain related and subsidiary provisions within class 17.

Section 3 Evidence of carrying on of relevant business

Copies of documents evidencing that the company effects and carries out in the United Kingdom contracts the principal object of which is within a class of general business other than class 17 and which contain related and subsidiary provisions within class 17.

Section 4 Statement of margin of solvency

A statement showing the expected margin of solvency of the company at the date of application, after application of the provisions of Part V of the Insurance Companies Regulations 1981 (valuation of assets), and how that has been calculated.

Section 4 Statement from head office supervisor

A statement from the supervisory authority in the member State in which the company has its head office—

(a) stating the classes of insurance business which the company is authorised to carry on in that member State and specifying the risks covered there, and

(b) declaring that the company has the required solvency margin or minimum guarantee fund.

Section 4 Statement from head office supervisor

A statement from the supervisory authority in the country in which the company has its head office stating the classes of insurance business which the company is authorised to carry on in that country.

Section 5 Statement of margin of solvency

A statement showing the expected margin of solvency of the company at the date of application, after application of the provisions of Part V of the Insurance Companies Regulations 1981 (valuation of assets), and how that has been calculated.