Procedures in dealing with Cross Border Insurance Business – Passporting of Services Rights and Obligations

Intake Opening Soon 5:00 - 7:00pm Online

A general overview of the passporting rules and regulations and the passporting process applicable under the European and Local regulatory framework.

 

Description

The scope of this session will be to provide:

  • A high level overview of the European and local regulatory provisions concerning the European right to carry on Business of Insurance and Insurance distribution activities on a cross border basis either under freedom of establishment or freedom to provide services.
  • Details of the notification process which needs to be undertaken by Maltese Insurance undertakings and Maltese Insurance intermediaries to notify of their intensions to exercise their European passporting rights.

 

Course Topics

  • EU Directives applicable to the passporting regime
  • Maltese Regulatory framework transposing the passporting regime including relevant provisions under the Insurance Business Act, the Insurance Distribution Act, the European Passport Rights for Insurance Undertakings, the European Passport Rights for Insurance Intermediaries and applicable Insurance Rules

 

Learning Objectives

To obtain an understanding of the legal framework applicable to the passporting regime on a European and local level and the Regulatory notification process.

 

Target Audience

Senior Management and Compliance Officers of Insurance Undertakings and Intermediaries.

 

Assessment Questions and Answers

In line with MFSA requirements, a short multiple-choice assessment will be provided by the trainer towards the end of the session. A Certificate of Attendance will be awarded to all students who attend the CPD (duration will be included on certificate). A Certificate of Achievement will be awarded to those who sit for the assessment and are successful (pass mark 60%).

Trainers

Romina Bonnici, B.Com (Honours) Economics; MA Financial Services, ACII

Romina Bonnici is Senior Regulatory Advisor within the insurance and pensions team of Ganado Advocates, with focus on re/insurance and pensions regulation. Romina is an Associate of the Chartered Insurance Institute, UK. She previously worked as Senior Manager in the corporate and insurance law practice group of a local law firm. Romina started her career with the Malta Financial Services Authority in the insurance and pensions supervision unit for ten years and within the authorisation unit for a further period of eight years where she held the position of Deputy Director, leading an analytical and multidisciplinary team whose duties primarily involved the processing of application in the areas of insurance, pensions, trusts and corporate services providers.

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MITC is made up of a close-knit team with a real passion for learning and insurance, who believe in the continuous development and empowerment of individuals through learning. We understand all of the nuances and challenges that come with insurance training and, that is why we’re here to help you get your training right.

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