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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 22 February 2016 - onwards
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Annex I Minimum Profesional knowledge and competence requirements

(as referred to in Article 10(2)

I Non-life risks classified under classes 1 to 18 in Part A of Annex I to Directive 2009/138/EC:

(a) minimum necessary knowledge of terms and conditions of policies offered, including ancillary risks if covered by such policies;

(b) minimum necessary knowledge of applicable laws governing the distribution of insurance products, such as consumer protection law, relevant tax law and relevant social and labour law;

(c) minimum necessary knowledge of claims handling;

(d) minimum necessary knowledge of complaints handling;

(e) minimum necessary knowledge of assessing customer needs;

(f) minimum necessary knowledge of the insurance market;

(g) minimum necessary knowledge of business ethics standards; and

(h) minimum necessary financial competency.

II Insurance-based investment products:

(a) minimum necessary knowledge of insurance-based investment products, including terms and conditions and net premiums and, where applicable, guaranteed and non-guaranteed be

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