# The Insurance Companies (Accounts and Statements) Regulations 1996, Paragraph 1


Subject to paragraph 2 below, for each contract entered into or modified during the financial year in question under which general business has been ceded by the company on a non-facultative basis, the company shall prepare a statement of—
(a) the type of business covered by reference to risk groups or business categories, as appropriate. If only part of a risk group or business category is covered, a description of that part shall be given;
(b) the type of cover, including such details of the terms and conditions of the contract as are necessary for a proper understanding of the nature of the cover;
(c) details of any limits on cover as are necessary for a proper understanding of the contract, including any event limits, limits on the amount of business ceded, limits on the number of reinstatements and aggregate limits; and
(d) the period of cover.

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Source: https://www.legislation.gov.uk/uksi/1996/943/schedule/5/paragraph/1 (the official version)
Page: https://openlegislation.uk/insurance-companies-accounts-and-statements-regulations-1996/schedule-5/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.