Application provision

1.1 Unless otherwise stated, this Part applies to a small non-directive insurer.

2.1

07/03/2016

Future version
10/12/2018

A firm must ensure that all persons who perform a senior insurance management function are fit and proper persons.

2.2

07/03/2016

Future version
10/12/2018

In deciding whether a person is fit and proper pursuant to 2.1, a firm must be satisfied that the person:

  1. (1) has the personal characteristics (including being of good repute and integrity);
  2. (2) possesses the level of competence, knowledge and experience;
  3. (3) has the qualifications; and
  4. (4) has undergone or is undergoing all training,

required to enable such person to perform his or her senior insurance management function effectively and in accordance with any relevant regulatory requirements, including those under the regulatory system, and to enable sound and prudent management of the firm.

2.3

07/03/2016

Future version
10/12/2018

Before deciding, and in considering on an on-going basis, whether a person is fit and proper pursuant to 2.1 and 2.2, a firm must consider the person's past business conduct, including whether the person performs his or her senior insurance management functions in accordance with the relevant conduct standards specified in Non-Solvency II Firms - Conduct Standards 2.

2.4

07/03/2017

Future version
10/12/2018

In deciding whether a person (P) is fit and proper to perform a senior insurance management function, a firm must:

  1. (1) obtain P’s consent for the firm to request the fullest information in relation to P that it is lawfully able to request under the Police Act 1997 and related subordinated legislation of the UK or any part of the UK;
  2. (2) if P has lived or worked outside the UK for a material time in the previous six years, obtain P’s consent for the firm to request the fullest information in relation to P that it is lawfully able to request under equivalent overseas legislation; and 
  3. (3) request, and have regard to, such information.

2.5

07/03/2017

Future version
10/12/2018

If a firm previously obtained the information in 2.4 when it determined that a senior insurance management function holder was fit and proper in accordance with this Part, and the firm engages that person for a continuous period of time, the firm is not required to comply with 2.4 again in respect of any subsequent appointments at the same firm within that continuous period.