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Disclaimer

The following list of “conditions of general good” for life and non-life insurers is neither complete nor

exhaustive. On entering the Dutch financial markets and during their pursuit of business in the

Netherlands, insurers who are established in another Member State of the European Economic Area

(EEA) and intend to pursue their business in the Netherlands, must continuously monitor the

legislation and regulations applying in the Netherlands. DNB can neither be held liable for

inaccuracies in or incompleteness of this list, nor for the use made of this list. From this list no rights

may be derived. If you have questions further to the information provided, you are advised contact the

competent authorities.

This list has been updated up to and including 1 June 2009.

Provisions of general good for life and non-life insurers established in other EEA Member States

and intending to pursue their business in the Netherlands

Generic provisions

Regulation Provision

Description

Section 1:1

Definitions of, e.g. (in alphabetical order):

- intermediary services;

- branch;

- financial service;

- financial service provider;

- financial undertaking;

- institutional investor;

- life insurer;

- life insurance;

- premium;

- non-life insurer;

- non-life insurance;

- providing services, (…) insofar as insurers are

concerned;

- an insurer’s representative;

- insurer;

- insurance;

- registered office;

- insurance claim;

- seat.

Section 1:7

Lloyd’s (of London)

Section 1:8

Pension insurances – scope

Section 1:21

Providing intermediary insurance services – scope

Section 3:1, subsection b

Management of a collective pension fund

– scope

Section 3:6

Acting as a guarantee fund

Section 3:38

Prohibition on insuring risks of acts of war

Section 3:40 and Sections

42–47 Prudential Rules

(Financial Supervision

Act) Decree (Besluit

prudentiële regels Wft)

Address of representative

Section 3:42 and Sections

33–40 Prudential Rules

(Financial Supervision

Act) Decree

Notification and implementation of amendment by

life or non-life insurers providing services to the

Netherlands from a branch in a non-EEA country

Financial Supervision

Act (Wet op het

financieel toezicht, or

Wft)

Sections 3:78 and 135

Prudential Rules

(Financial Supervision

Act) Decree

Statement of insurance contracts concluded from a

branch on account of the provision of services from

to the Netherlands by that branch

(2)

Sections 3:122-3:125

Requirement for prior permission from DNB for the

transfer of rights and obligations from life insurance

or non-life insurance contracts concluded from a

branch located in the Netherlands

(3)

Section 3:198; and

Section 198 Prudential

Rules (Financial

Supervision Act) Decree

Priority regulation in contingency scheme

Wet op het financieel

toezicht, or Wft

(Financial

Supervision Act)

Sections 4:19–4:25; and

Chapter 8 Market

Conduct Supervision

(Financial Institutions)

Decree (Besluit

Gedragstoezicht financiële

ondernemingen Wft); and

Chapters 2 and 3

ondernemingen Further

Regulation on Conduct of

Business Supervision of

Financial Udertakings

(Nadere regeling

gedragstoezicht financiële)

(AFM)

Careful provision of services – Advertisements,

(non-)mandatory precontractual information,

financial information for complex products,

information during the term of an agreement and

within the scope of a distance contract

Section 4:63; and Section

60 (1) Market Conduct

Supervision (Financial

Institutions) Decree

(mandatory precontractual

information)

Cooling-off period for non-life insurer

Section 5:68 and

Chapter 6 Decree on

Market Abuse (Besluit

marktmisbruik Wft)

Securities-related code of conduct

Sections 5:86 and 5:87

Code of conduct for institutional investors

Sections 193a–193j

Unfair trade practices

Civil Code

(Burgerlijk Wetboek),

Book 6 Title 3

Sections 194–196

Misleidende and comparative advertising

Civil Code, Book 6

Title 5

Sections 237 and 238

Black and grey lists (unreasonably onerous

conditions in consumer agreements)

Sections 925–943

Insurance – General Provisions

Sections 944–963

Insurance – Non-life insurance

Civil Code, Book 7

Title 17

Sections 964–986

Insurance – Insurance providing for payment of a

capital sum

Civil Code, Book 7

Title 18

Sections 990–992

Annuity

Sections 2–3

Implementation of international sanctions –

Prohibitions on, or limitations to, the provision of

financial services

Sanctions Act

(Sanctiewet 1977)

Section 10 (2), 10b and 10f

of the Sanctions Act; and

Regulations on supervision

pursuant to the Sanctions

Act (Regeling toezicht

Sanctiewet 1977)

Supervision for compliance with rules for operations

in the field of administrative organisation and

internal control

Medical

Examinations Act

(Wet op de medische

keuringen)

Sections 4–7

Provisions prohibiting medical examinations prior to

the formation of life and occupational disability

insurance contracts

Legal Transactions

(Taxation) Act (Wet

op belastingen van

rechtsverkeer)

Chapter III

(Sections 22–31)

(4)

Income Tax Act

2001 (Wet

inkomsten-belasting)

Sections 3.126–133

Tax aspects of expenditure on income insurance

(annuity)

Decree on rules on

the electronic

transmission of

information within

the scope of an

insurance contract

(Besluit regels inzake

de verzending van

mededelingen langs

elektronische weg in

het kader van een

verzekeringsovereen-komst)

Section 1

Electronic transmission of information

(Section 933 of Book 7 Civil Code)

Flora and Fauna

Act

(Flora- en Faunawet)

Section 54 (5): and

Section 17 Decree on

Hunting (Jachtbesluit)

Maximum amount to be insured by hunters

Railways Act

(Spoorwegwet)

Section 55; and

Section 7 (1) and

Section 8 (3) Decree on

operating license and

safety certificate for main

railways (Besluit

bedrijfsvergunning en

veiligheidsattest

hoofdspoorwegen)

Maximum amount to be insured by main railways

Liability of Oil

Tankers Act

(Wet

aansprakelijkheid

olietankschepen)

Sections 11 - 14

Obligation to insure

Medical research

(human subjects)

Act (Wet

medisch-wetenschappelijk

onderzoek met

mensen)

(5)

Pension insurers

Regulation Provision

Description

Section 1

Definitions of, e.g.:

- foreign institution;

- pension provider;

- insurer.

Sections 7–18 and 35

Requirements on pension agreement

Section 23

Obligation for employer to contract and maintain a

written administration agreement

Sections 25–27

Requirements on administration agreements

between employer and insurer

Section 29

Provisions in the event of premium arrears by the

employer

Sections 21, 36–39

Information supply to members, pensioners and

deferred members

Section 52

Pension provider’s duty of care in defined

contribution agreements with freedom of

investment

Section 59

Supplementary benefits for deferred members

Sections 60 and 61

Options for higher old-age pension or earlier

start-up pension in exchange for partner’s pension

Sections 65–69

Prohibition on surrender of pension rights

Sections 70–92

Transfer of pension value

Pensions Act

(Pensioenwet)

Section 95

Granting of supplements; consistency with the

expectations created

Wages and Salaries

Tax Act (Wet op

loonbelasting 1964)

(6)

Healthcare insurers / Insurance under the Exceptional Medical Expenses Act (Non-life insurers –

Accidents and Medical Expenses)

Regulation Provision

Description

Section 1

Definitions of, e.g.:

a. insurer;

b. healthcare insurer;

d. healthcare insurance (basis health insurance);

g. compulsory excess;

h. voluntary excess;

i. health insurance policy;

j. model agreement;

o. healthcare authority (Nederlandse Zorgautoriteit;

NZa);

p. health insurance body: College voor

Zorgverzekeringen;

q. Health Insurance Fund;

s. generic settlement;

w. Central Administration Office for Exceptional

Medical Expenses, or CAK.

Section 2

Obligation to insure

Sections 3–4

Duty to accept

Sections 5–9

Start and termination of basic insurance, incl.

provisions on notice period

Sections 10–24; and

Sections 2.1–2.19

Decree on Healthcare

Insurance (Besluit

zorgverzekering); and

Sections 2.1 – 2.50

Regulation on

Healthcare Insurance

(Regeling

zorgverzekering)

Contents of healthcare insurance: the risk and

services to be insured; the premiums and other

provisions.

Sections 25–38; and

Sections 3.1–3.17

Decree on Healthcare

Insurance; and

Sections 3.1–3.18

Regulation on

Healthcare Insurance

Healtcare insurers: registration, articles of

association and the field of operations; equalisation

payment; accounting

Sections 39–40

Healthcare fund

Healthcare Insurance

Act

(Zorgverzekerings-wet or Zvw)

Sections 58–76

College voor Zorgverzekeringen

Section 33

A healthcare insurer within the meaning of the Zvw

who wishes to apply the AWBZ, must notify the

healthcare authority accordingly in advance.

Exceptional

Medical Expenses

Act (Algemene Wet

Bijzondere

Ziektekosten or

AWBZ)

Sections 34–37

Obligations for administration agencies under the

AWBZ

Healthcare (Market

Regulation) Act

(Wet marktordening

gezondheidszorg)

Sections 34–45

General obligations of healthcare providers and

healthcare insurers

NZa regulations and

policy rules

The

NZa informs healtcare insurers of its regulations

and policy rules via circulars

(7)

Motor insurers (Non-life insurers – motor liability sector)

Regulation Provision

Description

Section 4:70 (1) and (6) –

(8)

Supplementary rules for motor insurers carrying on

their business from a branch in the Netherlands

Section 4:71

Supplementary rules for motor insurers carrying on

their business from a branch in the Netherlands

Supplementary rules for motor insurers carrying on

their business by means of cross-border services to

the Netherlands

Section 75 Market

Conduct Supervision

(Financial Institutions)

Decree

Information during the term of an agreement by

motor insurers carrying on their business by means

of cross-border services to the Netherlands

Arts. 105 and 106 Market

Conduct Supervision

(Financial Institutions)

Decree; and

Section 39 (2) and (5)

Prudential Rules

(Financial Supervision

Act) Decree

Notification requirement regarding changes at motor

insurers carrying on their business by means of

cross-border services to the Netherlands

Financial Supervision

Act (Wet op het

financieel toezicht, or

Wft)

Section 135 (2) Decree on

Prudential Rules

Provision of statement of insurance contracts

concluded

Section 2 (9)

Annual contribution to Nederlands Bureau der

Motorrijtuigverzekeraars (Dutch Motor Insurers

Agency)

Section 3

Obligations under the policy

Sections 3a and 4 (2)

Obligations under the policy for heavy motor

vehicles

Section 5

Guarantee of full cover towards the aggrieved party

for contracts with accidental damage excess

Section 11

No counterclaim against aggrieved party on the

basis of nullities

Sections 13 and 13a

Decree on

announcements within

the scope of motor

liability insurance (Besluit

kennisgevingen

aansprake-lijkheidsverzekering

motorrijtuigen); and

Adoption of method of

information supply

pursuant to Section 13 of

the WAM (Vaststelling

wijze van verstrekking

gegevens ex Section 13

WAM)

Notification requirement for insurers towards the

Dienst Wegverkeer (Dutch Road Transport

Directorate)

Civil Liabillity

Insurance (Motor

Vehicles) Act (Wet

aansprakelijk-heidsverzekering

motorrijtuigen or

WAM)

Section 22; and Decree

fixing the amounts

insured under motor

liability insurance (Besluit

vaststelling bedragen

aansprakelijkheids-verzekering

motorrijtuigen)

(8)

Section 24 (1);

Section 24a (1)

Annual contribution to the Dutch Motor Traffic

Guarantee Fund (Waarborgfonds Motorverkeer)

and garantee of this fund’s obligations

Section 28

Applicability of WAM to revocation of the insurer’s

licence or imposition of a ‘production stop’ on the

basis of Section 1:58 of the Wft

Section 34 (2)

Issue of a certificate of insurance during a defined

period

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