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  1. Point in time
    2014-06-08

PERG 5.16 Meaning of 'insurance mediation'

PERG 5.16.1GRP

PERG 5.16.2 G sets out the text of article 2.3 of the Insurance Mediation Directive. It is referred to in PERG 5.2.5 G and PERG 5.2.5 G (Approach to implementation of the IMD), PERG 5.11.7 G (Exclusions disapplied in connection with insurance mediation) and PERG 5.11.10 G (Activities carried on in the course of a profession or non-investment business).

PERG 5.16.2GRP

Text of article 2.3 of the Insurance Mediation Directive

"'Insurance mediation' means the activities of introducing, proposing or carrying out other work preparatory to the conclusion of contracts of insurance, or of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim.

These activities when undertaken by an insurance undertaking or an employee of an insurance undertaking who is acting under the responsibility of the insurance undertaking shall not be considered as insurance mediation.

The provision of information on an incidental basis in the context of another professional activity provided that the purpose of that activity is not to assist the customer in concluding or performing an insurance contract, the management of claims of an insurance undertaking on a professional basis, and loss adjusting and expert appraisal of claims shall also not be considered as insurance mediation."