Entire Section

  • PIN 5.2.2 PIN 5.2.2

    Where a contract relates to more than one Class of Business, the Insurer must record separately the portions of the contract that relate to each Class of Business, except that immaterial portions need not be separately recorded.

    Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]

    • PIN 5.2.2 Guidance

      1. The Classes of Business are set out in GEN App4.
      2. A portion of a Contract of Insurance, insuring a risk of a Class of Business other than the principal Class of Business to which the contract relates, will not normally be regarded as material if the interest that it insures is both related and subsidiary to the principal interest or interests insured under the contract, and constitutes less than ten per cent of the Gross Written Premium under the contract.

      Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]