Q&A

Question

EIOPA understands freedom to provide services in the case of Intermediaries and Ancillary Intermediaries as meaning: 14/35 An Intermediary or Ancillary Intermediary is operating under freedom to provide services (“FoS”) if it intends to provide a policyholder, who is established in a Member State different from the one where the Intermediary or Ancillary Intermediary is registered, with an insurance contract relating to a risk situated in a Member State different from the Member State where the Intermediary or Ancillary Intermediary is registered. The question that arises is whether an intermediary who plans to manufacture together with a carrier based in EU a product of Personal Accident, Death coverage ( taking into account the Product Oversight and Governance provisions) directly to EU and Non EU ( nationality, residence or citizenship ) seafarers ( target market), only while they are officially boarded (holding valid seaman book) on vessels sailing under various flags, this is considered to be an activity that falls under the scope of FOS. Is there any provision excluding this occupational target like may be the case with the P&Ι's or may be the case with travelling insurance? What about the taxes that are applied? Shipping Insurance has different tax allocation approach. May it be applied into this case?

EIOPA answer

This question was rejected because:

  • it relates to a specific business model which requires bespoke advice;
  • relevant parts of the question, i.e. tax-related matters, are outside of EIOPA’s remit and therefore outside the scope of EIOPA’s Q&A process.