Insurance supplement notes

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This section contains information that may assist you in completing the insurance supplement. Each note relates to a question in the insurance supplement. Eg IN8 below provides information to assist you to complete the question at IN8 of the insurance supplement.

Section 1: Corporate governance, strategy and business model

IN1. -
IN2. PIN chapter 10 focuses solely on Insurance Special Purpose Vehicles (ISPV). If you are an ISPV and have answered this question fully, you do not need to answer the remaining questions in this supplement.

Section 2: Financial and operational risks

IN3. There is extensive guidance on the management and control of risks in PIN Appendix 2. See in particular PIN sections A2.7 and A2.9.
IN4. See in particular PIN section A2.14.
IN5. See in particular PIN section A2.5 and the requirements for actuarial review in PIN chapter 7.
IN6. See in particular PIN section A2.6.

Section 3: Conduct of business risks to clients and markets

IN7. This question relates to Insurance Monies arising from Insurance Intermediation or Insurance Management business. These are defined in COB Rule 7.12.2 and the rules on handling them are contained in COB Rules 7.12.57. 12.15.
IN8. If you have cover agreements, agency agreements or mandates with Insurers that give you authority to accept risk on behalf of Insurers, we want some detail on what those arrangements are. Your response should include the list of Insurers you intend to use over the next 12 months and the limits of the authority that you have to accept risk on behalf of the Insurer, for example, what is the maximum capacity in respect of any one risk? (It may be easier for you to provide copies of the relevant agreements.)

[Amended][VER6/08-14]