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Term Definition Legal instruments

conduct standards

31/12/2020

The changes to this defined term are effective from 23:00 on 31/12/2020.

(1) for a UK Solvency II firm, the Society, a managing agent and a UK ISPV, means the standards of expected conduct specified in Insurance – Conduct Standards 3;
(2) for a third country branch undertaking (other than a Swiss general insurer), means the standards of expected conduct specified in Insurance - Conduct Standards 3.1 to 3.3 and, taking account only of matters relevant to the operations of the third country branch, Insurance – Conduct Standards 3.4 to 3.8;
(3) for a small non-directive insurer, means the standards of expected conduct specified in Non-Solvency II Firms - Conduct Standards 2;
(4) for a large non-directive insurer, means the standards of expected conduct specified in Large Non-Solvency II Firms - Conduct Standards 3; and
(5) for a Swiss general insurer, means the standards of expected conduct specified in Large Non-Solvency II Firms - Conduct Standards 3 taking account only of matters relevant to the operations of the third country branch.