The Insurance Companies (Amendment) Regulations 1990
These Regulations make amendments to the Insurance Companies Act 1982 (“the 1982 Act”), the Insurance Companies Regulations 1981 (“the 1981 Regulations”) and the Insurance Companies (Accounts and Statements) Regulations 1983 (“the 1983 Regulations”). The purpose of the amendments is to implement Council Directive 88/357/EEC (O.J. No. L172, 4.7.88, p. 1) relating to non-life insurance. Council Directive 73/239/EEC (O.J. No. L228, 16.8.73, p. 3) created a supervisory regime for direct non-life “establishment” business (ie general insurance business carried on by insurers through an establishment in a member State). Directive 88/357/EEC introduces changes to that regime and makes new provision for the regulation of insurers who provide direct non-life insurance to cover risks in a member State on a “services” basis, ie otherwise than through an establishment in that State.