Decree No. 326 / 2013 Coll.
Decree amending Decree No. 434 / 2009 Coll., implementing certain provisions of the Insurance Act
Valid
Order
Effective from 01.11.2013
Text versions:
01.11.2013
11.10.2013
326
DECLARATION
of 18 September 2013
amending Decree No. 434 / 2009 Coll., implementing certain provisions of the Insurance Act
The Czech National Bank provides, pursuant to § 136 (1) (a), (h), (j) and (m) of Act No. 277 / 2009 Coll., on Insurance:
Decree No. 434 / 2009 Coll., implementing certain provisions of the Insurance Act, is amended as follows:
1. In Article 13 (1) (m), the words "collective investment funds which comply with the requirements of European Community law 'are replaced by the words" standard funds or comparable foreign investment funds'.
2. In Paragraph 13 (1) (n), the words "collective investment funds which do not comply with the requirements of European Community law 'are replaced by the words" investment funds or foreign investment funds whose home Member State is a Member State and which are not referred to in point (m)'.
3. In Article 16 (2) (g), the words "mixed financial holding company 'are inserted after the words" insurance holding company'.
4. in Articles 23 (1) (a), 23 (2) (a), 23 (2) (b), 23 (3) (a), 24 (3), 24 (4) (d) and 24 (4) (e), the words "or mixed financial holding persons" shall be inserted after the words "insurance holding persons."
5. in Articles 23 (1) (b), 23 (2) (b), 23 (3) (b), 24 (4) (d) and 26, the words "or insurance holding company" are replaced by the words "insurance holding company or mixed financial holding company."
6. In Section 23 (2) of the introductory part of the provision, the words "or mixed financial holding company 'shall be inserted after the words" insurance holding company'.
7. In Article 24 (1), the words "mixed financial holding persons' and" or insurance holding persons' are replaced by the words "insurance holding persons'.
8. In Article 24 (4) (b), the words "or mixed financial holding persons' shall be inserted after the words" insurance holding persons'.
9. In Article 24 (4) (d), the words "or an insurance holding person 'are replaced by the words", an insurance holding person or a mixed financial holding person'.
10. In Annex No 1, Part III, the following points 3 and 4 are inserted after point 2:
"(3) The management and control system of the domestic insurance undertaking shall be set up in such a way as to allow proper and prompt examination, processing and processing of complaints received concerning the insurance undertaking's progress.
(4) The management and control system of the national insurance undertaking is set up in such a way as to include basic assumptions and principles for the proper handling of complaints, which are, in particular,
(a) the way in which transparent disclosure of information on how a complaint can be lodged and how the complaints received will be handled;
(b) the procedures for informing the complainant in a clear and comprehensible manner of the receipt and processing of the complaint, including the justification for the opinion of the national insurance undertaking and, where appropriate, any other possibilities for the complainant's action, and the procedures for the possible information on the processing of the complaint;
(c) internal time limits and procedures for receiving, processing, handling and storing complaints and related information; and
(d) procedures for analysing the reasons for lodging individual complaints in order to identify any repeated or systemic misconduct and possible risks of a domestic insurance undertaking. "
Points 3 to 5 of Annex No 1, Part III, shall be renumbered 5 to 7.
11. In Annex 3, Part In point 1, "50 000 000 'is replaced by" 61 300 000'.
12. In Annex 3, Part In point 2, "35 000 000 'is replaced by" 42 900 000'.
13. Annex 4 shall read as follows:
"Annex No. 4 to Decree No. 434 / 2009 Coll.
Procedure for calculating the adjusted solvency margin of the domestic insurance or reinsurance undertaking
The adjusted solvency margin of USp shall be calculated as follows:
USP = A - B,
where
A = DMSp + dost ji = 1nqi * DMASi,
B = dost r i = 1nUHPi + PMM + dost j i = 1nqi * PMSi,
where the DMSp available solvency margin of the insurance holding undertaking or reinsurance undertaking, insurance undertakings from a third State or reinsurance undertaking from a third State or the capital of the insurance holding person or mixed financial holding person,
qi the proportional share of the insurance holding company or reinsurance undertaking, the insurance holding person or mixed financial holding person, the insurance undertaking from a third State or the reinsurance undertaking from a third State in the capital of the ith controlled or affiliated insurance undertaking, reinsurance undertaking, insurance holding person or mixed financial holding person;
the available solvency margin of the ith controlled or associated insurance or reinsurance undertaking or the capital of the ith controlled or associated insurance holding person or mixed financial holding person,
UHpl the carrying amount of the holding and items referred to in Article 16 (4) of the insurance holding company or reinsurance undertaking, insurance holding company or mixed financial holding company, insurance holding company from a third State or reinsurance undertaking from a third State in the controlled or associated insurance undertaking, reinsurance undertaking, insurance holding company or mixed financial holding person,
PMSp required solvency margin of the insurance holding undertaking or reinsurance undertaking, insurance undertaking from a third State or reinsurance undertaking from a third State,
PMIs required solvency margin i-th controlled or associated insurance or reinsurance undertaking. ';
Transitional provision
The local insurance and insurance company of a third State shall adjust its management and control system in accordance with Decree No. 434 / 2009 Coll., as effective from the date of entry into force of this Order, no later than 3 months after the date of entry into force of this Order.
Efficacy
This Decree shall take effect on 1 November 2013.
Governor:
Ing. Singer, Ph.D., v. r.
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Regulation Information
| Citation | Decree No. 326 / 2013 Coll., amending Decree No. 434 / 2009 Coll., implementing certain provisions of the Insurance Act |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 11.10.2013 |
|---|---|
| Effective from | 01.11.2013 |
| Effective until | - |
| Status | Valid |
Legal Areas:
Banking, Money
Finance
The regulation text is for informational purposes only.
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