{
  "url": "https://openlegislation.uk/eu-regulation-2015-2451/annex-III/division-1",
  "json_url": "https://openlegislation.uk/eu-regulation-2015-2451/annex-III/division-1.json",
  "legislation": "eur/2015/2451",
  "legislation_title": "Commission Implementing Regulation (EU) 2015/2451 of 2 December 2015 laying down implementing technical standards with regard to the templates and structure of the disclosure of specific information by supervisory authorities in accordance with Directive 2009/138/EC of the European Parliament and of the Council (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2015-2451",
  "path": "annex/III/division/1",
  "kind": "division",
  "number": null,
  "heading": "TEMPLATE FOR THE DISCLOSURE OF INFORMATION REGARDING THE EXERCISE OF OPTIONS UNDER POINT (D) OF ARTICLE 31(2) OF DIRECTIVE 2009/138/EC",
  "text": "Text of law (L), regulation (R), administrative rule (A).\nArticle of Directive 2009/138/EC\nTitle of Article\nDescription of the option\nUse of option YES / NO\nNational legal instrument used L/R/A\nReference to Article in national law\nText or link to text of national law\nText or link to text of national law where available in another language\nArticle 13(27)\nDefinitions\nRegarding the definition of large risks option to add to the category of risks classified under classes of non-life insurance 3, 8, 9, 10, 13 and 16 in Part A of Annex I, the risks insured by professional associations, joint ventures or temporary groupings\nArticle 15(2), sub-paragraph 3\nScope of authorisation\nOption to grant authorisation for two or more classes of direct insurance\nArticle 15(3), sub-paragraph 1\nScope of authorisation\nOption to grant authorisation for non-life insurance for groups of classes listed in Part B of Annex I\nArticle 17(2)\nLegal form of insurance or reinsurance undertaking\nOption to set up undertakings of a form governed by public law provided that such bodies have insurance or reinsurance operations as their object, under conditions equivalent to those under which undertakings governed by private law operate\nArticle 21(1), sub-paragraph 2\nPolicy conditions and scales of premiums\nOption to require in life insurance systematic notification of the technical bases used for calculating scales of premiums and technical provisions for the purpose of verifying compliance with actuarial principles\nArticle 21(3)\nPolicy conditions and scales of premiums\nOption to subject undertakings seeking or having obtained authorisation for assistance activity to checks on their resources in staff and equipment\nArticle 21(4)\nPolicy conditions and scales of premiums\nOption to require approval of the memorandum and articles of association or any other documents necessary for normal supervision\nArticle 51(2), sub-paragraph 3\nReport on solvency and financial condition: contents\nOption allowing to exempt during a transitional period, (re) insurance undertakings from the requirement concerning the separate disclosure of the capital add-on or the impact of the use of undertaking-specific parameters where their use is required by the supervisory authority.\nArticle 57(1)\nAcquisitions\nWhere Member States apply a threshold of one third for the notification to supervisory authorities of acquisitions in accordance with Directive 2004/109/EC, option to continue to apply that threshold, instead of a threshold of 30 %.\nArticle 57(2)\nAcquisitions\nWhere Member States apply a threshold of one third for the notification to supervisory authorities of disposals in accordance with Directive 2004/109/EC, option to continue to apply that threshold, instead of a threshold of 30 %.\nArticle 73(2)\nPursuit of life and non-life insurance activity\nOption to allow the following:\n(i) life insurance undertakings to obtain authorisation for non-life insurance activity for accident and sickness risks;\n(ii) non-life undertakings authorised solely for writing accident and sickness risks to obtain authorisation to pursue life insurance activity.\nFirst sentence of paragraph 3 of Article 73\nPursuit of life and non-life insurance activity\nOption allowing to provide for compliance of the undertakings referred to in Article 73(2) with accounting rules governing life insurance undertakings for all of their activities\nSecond sentence of paragraph 3 of Article 73\nPursuit of life and non-life insurance activity\nOption allowing within a winding-up procedure to apply the rules for life insurance activities to accident and sickness activities pursued by the undertakings under Article 73(2)\nArticle 73(5), sub-paragraph 2\nPursuit of life and non-life insurance activity\nOption allowing to require putting an end to the simultaneous pursuit of life and non-life activities within a certain period\nArticle 77d(1)\nVolatility adjustment to the relevant risk-free interest rate term structure\nOption allowing to require prior approval by the supervisory authority to apply the volatility adjustment to the risk-free interest rate term structure to calculate the best estimate referred to in Article 77(2)\nArticle 148(2)\nNotification by the home Member State\nOption to require non-life insurance undertakings covering motor vehicle liability risks under the freedom to provide services to submit certain information\nArticle 150(3)\nCompulsory insurance on third party motor vehicle liability\nOption for the host Member State to require insurance undertakings providing services to comply with rules concerning covering aggravated risks provided that they apply to non-life insurance undertakings\nArticle 152(4)\nRepresentative\nOption allowing to approve a claims representative appointed according to Article 4 of Directive 2000/26/EC as a representative under Article 152(1)\nArticle 163(3)\nScheme of operations of the branch\nOption allowing to require from insurance undertakings to submit systematic notification of the technical basis used for calculating premiums and technical provisions in regard to life insurance\nArticle 169(2)\nSeparation of non-life and life business\nOption allowing composite branches to pursue life and non-life insurance activities provided that each of the activities is separately managed\nArticle 169(3), sub-paragraph 2\nSeparation of non-life and life business\nOption regarding branches which on the dates referred to in the first sub paragraph of Article 73(5) pursed solely life insurance activity within the Member State, but which head office situated outside of the community simultaneously pursues life and non-life activities and subsequently wishes to pursue non-life insurance activity in that Member State.\nArticle 179(4), sub-paragraph 2\nRelated obligations\nOption allowing to require the issue of a declaration that an insurance contract complies with specific provisions relating to compulsory non-life insurance\nArticle 181(1), sub-paragraph 2\nNon-life insurance\nOption to require non-systematic notification of policy conditions and other documents to verify compliance with national provisions concerning insurance contracts\nArticle 181(2), sub-paragraph 1\nNon-life insurance\nOption allowing to require communication of the general and specific conditions of compulsory insurance to the supervisory authority before circulating them\nArticle 182, sub-paragraph 2\nLife insurance\nOption allowing to require systematic communication of the technical bases used for calculating scales of premiums and technical provisions to verify compliance with actuarial principles\nArticle 184(2), sub-paragraph 2\nAdditional information in the case of non-life insurance offered under the right of establishment or the freedom to provide services\nOption to require for the name and address of the representative of a non-life insurance undertaking to appear in an insurance contract or other document granting cover\nArticle 185(7)\nInformation for policy holders\nOption allowing to require the provision of additional information to ensure that policyholders understand the essential elements of the life insurance commitment\nArticle 186(2)\nCancellation period\nOption allowing to not apply a cancellation period for policy holders in specific cases\nArticle 189\nParticipation in national guarantee schemes\nOption allowing to require compulsory participation of non-life insurance undertakings in host Member State guarantee schemes\nArticle 197, sub-paragraph 1\nActivities similar to tourist assistance\nOption allowing to provide for assistance to persons in difficulties in circumstances other than those laid down in Article 2(2)\nArticle 198(2)(c)\nScope of this section\nOption allowing to not apply the requirements for legal expenses insurance to the activity of legal expenses insurance undertaken by an assistance insurer under specific circumstances\nArticle 199\nSeparate contracts\nOption allowing to request an explicit specification of the amount of the premium for legal expenses within the relevant contract\nArticle 200(1), sub-paragraph 1\nManagement of claims\nOption allowing to choose between three methods for the management of claims\nArticle 200(3), sub-paragraph 2\nManagement of claims\nOption allowing to extend the prohibition on simultaneous pursuit of the same or similar activity in a linked insurance undertaking to members of the administrative, management or supervisory body of the legal expenses insurance undertaking\nArticle 202(1)\nException to the free choice of lawyer\nOption allowing the exemption from the free choice of lawyer rule in legal expenses insurance subject to certain conditions\nArticle 206(1)\nHealth insurance as an alternative to social security\nOption allowing to require: (a) compliance of health insurance contracts with specific legal provisions to protect the general good in the class of sickness insurance; and (b) communication to the supervisory authorities of the general and specific conditions of sickness insurance\nArticle 206(2), sub-paragraph 1\nHealth insurance as an alternative to social security\nOption allowing to require the operation of an alternative health insurance system on a technical basis similar to that of life insurance subject to specific conditions\nArticle 207\nCompulsory insurance against accidents at work\nOption allowing to require compliance of undertakings offering compulsory insurance against accidents at work with specific provisions of national law of the host Member State\nArticle 216(1), sub-paragraph 1\nUltimate parent undertaking at national level\nOption allowing for supervisory discretion to apply group supervision to an ultimate parent undertaking at national level\nArticle 225, sub-paragraph 2\nRelated insurance and reinsurance undertakings\nOption allowing to require taking into account the Solvency Capital Requirements and the eligible own funds in respect of related undertakings with a head office in another Member State, as laid down in that Member State, for the purposes of the group solvency calculation\nArticle 227(1), sub-paragraph 2\nRelated third-country insurance and reinsurance undertakings\nOption allowing to require taking into account the Solvency Capital Requirements and the eligible own funds in respect of related undertakings with a head office in an equivalent solvency regime third country, as laid down in that third country\nArticle 275(1)\nTreatment of insurance claims\nOption to choose between two methods or a combination thereof to ensure that insurance claims take precedence over other claims against an insurance undertaking\nArticle 275(2)\nTreatment of insurance claims\nOption to provide for the precedence of expenses arising from winding-up procedures over insurance claims wholly or in part\nArticle 276(2), sub-paragraph 2\nSpecial register\nOption to require a single register to be kept by insurance undertakings covering life and accident and sickness risks\nArticle 277\nSubrogation to a guarantee scheme\nOption to provide for the non-application of Article 275(1) to claims by insurance creditors where they have been subrogated to a national guarantee scheme\nArticle 279(2), sub-paragraph 2\nWithdrawal of the authorisation\nOption to provide that the pursuit of some activities during winding-up proceedings are subject to the consent and the supervision of the supervisory authority of the home Member State\nArticle 304(1)\nDuration-based equity risk sub-module\nOption to authorise life insurance undertakings to apply a duration-based equity risk sub-module under certain conditions\nArticle 305(1)\nDerogations and abolition of restrictive measures\nOption allowing for the granting of exemptions of non-life undertakings with certain maximum premium income which did not meet solvency requirements on 31 January 1975 from the requirement to establish a minimum guarantee fund\nArticle 308b(15)\nTransitional measures\nOption allowing to continue to apply the laws, regulations and administrative provisions that have been adopted with a view to complying with Articles 1 to 19, 27 to 30, 32 to 35 and 37 to 67 of Directive 2002/83/EC until 31 December 2019\nArticle 308b(16)\nTransitional measures\nOption allowing the ultimate parent insurance or reinsurance undertaking, during a period until 31 March 2022, to apply for the approval of an internal group model applicable to a part of a group",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Text of law (L), regulation (R), administrative rule (A)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2015/2451/annex/III/division/1",
    "retrieved_at": "2026-11-01T14:46:09.282185+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}