Right of establishment and freedom to provide services

FOE

In accordance with Article 145 of the Solvency II Directive 2009/138/EC the insurance undertaking which proposes to establish a branch within the territory of another Member State notifies the supervisory authorities of its home Member State (NBS). In accordance with providing the scope of information within the context of the Decision on the collaboration of the insurance supervisory authorities of the Member States of the European Union (EIOPA-BoS-21/235), the notification should be included with completed templates in both Slovak and English languages.

Template FoE – EN

22.62 kB

Template FOE – SK

24.61 kB

FOS

In accordance with Article 147 of the Solvency II Directive 2009/138/EC the insurance undertaking that intends to pursue business for the first time in one or more Member States under the freedom to provide services shall first notify the supervisory authorities of the home Member State. In accordance with providing the scope of information within the context of the Decision on the collaboration of the insurance supervisory authorities of the Member States of the European Union (EIOPA-BoS-21/235), the notification should be included with completed templates in both Slovak and English languages.

Template FoS – EN

25.03 kB

Template FoS – SK

25.71 kB

General good provisions- insurance undertaking

In accordance with paragraph 3.2.2 part II of the Decision on the collaboration of the insurance supervisory authorities of the Member States of the European Union the National Bank of Slovakia (hereinafter the “NBS”) would like to inform you insurance services are regulated on the territory of the Slovak Republic by:

– the Act No. 39/2015 Coll. on Insurance and on amendments and supplements to certain laws (hereinafter „Act on Insurance “), Annex No.1, published on the NBS’s website link:

http://www.nbs.sk/_img/Documents/_Legislativa/_BasicActs/A39-2015.pdf,

– the Act No. 747/2004 Coll. on Supervision of the Financial Market and on amendments and supplements to certain laws as amended, published on the NBS’s website link:

http://www.nbs.sk/_img/Documents/_Legislativa/_FullWordingsOther/A747-2004.pdf.

The National Bank of Slovakia would like to draw your attention to the fact that during the execution of insurance activities, it is essential to abide by those effective and valid Slovak legal requirements which do not directly concern insurance supervision but otherwise regulate the execution of these business activities. Each insurance undertaking from another EU and EEA member state is required to observe provisions adopted in the interest of the general good, mainly the provisions of:

• the Act No. 297/2008 Coll. on Protection against Legalization of Incomes from Illegal Activities and on amendments and supplements to certain laws,
• the Act No. 40/1964 Coll. – Civil Code and on amendments and supplements to certain laws – Articles 52-54 and 792,
• Articles 18, 19 and 21 para 5 and 6, 32, 68, 70 para 1b), c), g), h), 72 para 9-13 of the Act on Insurance,
• Article 70 para 4 of the Act on Insurance and Decree of the National Bank of Slovakia  No. 14/2015 stipulating the template for the form regarding insurance policy term,
• the Act No 266/2005 Coll. on the Consumer Protection in Connection with the Distance Financial Services and on amendments and supplements to certain laws,
• the Act No. 250/2007 Coll. on Consumer Protection and amendments to Act of the Slovak National Council No. 372/1990 Coll. on Offences and on amendments and supplements to certain laws, 
• the Act No 186/2009 Coll. on financial intermediation and financial advisory services and on amendments and supplements to certain laws – Article 26,
• Decree of the National Bank of Slovakia No 8/2018 laying down a document template for the main terms and conditions of insurance contracts,
• 8% from non-life insurance except from MTPL insurance (Act No 213/2018 Coll. on insurance tax),
• the Act No 513/1991 Coll. Commercial Code and on amendments and supplements to certain laws – Articles 21, 23,
• the Act No 595/2003 Coll. Income Tax Act and on amendments and supplements to certain laws,

• the Act No 147/2001 Coll. on advertisement and on amendments and supplements to certain laws,
• the Act No 97/1963 Coll. on International Private Law and Procedural Law and on amendments and supplements to certain laws – Articles 37a/letter b), 37e/5, 10.
• Regulation / Decree of Ministry of Finance of the Slovak Republic No. 233/2021 Coll. setting the information form about the components of insurance premium

In addition, the NBS would like to inform you that the aforementioned acts are possible to find on the NBS’s website:

http://www.justice.gov.sk and http://www.nbs.sk/en/legislation.

Comprehensive general good provisions by categories

Information concerning general good requirements of Slovakian law

195.69 kB