31. Effecting Contracts of Insurance
Effecting a Contract of Insurance as principal is a specified kind of activity.
32. Carrying Out Contracts of Insurance as Principal
Carrying out a Contract of Insurance as Principal is a specified kind of activity.
33. Insurance Intermediation(1) Insurance Intermediation is a specified kind of activity.(2) Insurance Intermediation means —(a) advising on Contracts of Insurance;(b) acting as agent for another person in relation to the Buying or Selling of Contracts of Insurance for that other person; or(c) making arrangements with a view to another person, whether as principal or agent, Buying Contracts of Insurance.(3) In sub-paragraph (2)(a), "advising" means giving advice to a person in his capacity as a policyholder or potential policyholder, or in his capacity as agent for a policyholder or potential policyholder on the merits of his entering into a Contract of Insurance whether as principal or agent.(4) In sub-paragraph (3), "advice" includes a statement, opinion or report —(a) where the intention is to influence a person, in making a decision, to select a particular Contract of Insurance or insurance cover; or(b) which could reasonably be regarded as being intended to have such influence.(5) The arrangements in sub-paragraph (2)(c) include arrangements which do not bring about the transaction.(6) The arrangements in sub-paragraph (2)(c) do not include arrangements of the kind described in paragraph 67 that constitute marketing.(7) The exclusion in paragraph 29 applies to the activity specified in sub-paragraph (2)(a).