RegAlert

Rule · CBI · 26 Feb 2025 · Reglur 200/2025

Rules on a Standard Format for the Presentation of an Insurance Contract Information Document

In force on issueApplies to: Insurer
consumer
insurance

Insurers distributing non-life insurance and those personal insurances falling under Article 20 of Act No. 100/2016 on insurance activities, cf. Article 10 of Act No. 30/2004 on insurance contracts, must follow the standard format in drafting and communicating an insurance contract information document under Article 10 of Act No. 30/2004. The rules enter into force immediately and replace the Central Bank of Iceland's Rules No. 1411/2021 on a standard format for the presentation of an information document for non-life insurance, which cease to be in force.

IcelandCentral Bank of Iceland

This is a difference between the presentation of the text below and in the PDF document; the PDF document prevails.

No. 200/2025
11 February 2025

RULES

on a standard format for the presentation of an insurance contract information document.

Article 1. Scope.

These rules apply to the distribution of non-life insurance and those personal insurances that fall under Article 20 of Act No. 100/2016 on insurance activities, cf. Article 10 of Act No. 30/2004 on insurance contracts.

Article 2. Standard format for the presentation of an insurance contract information document.

These rules are set to implement Regulation (EU) 2017/1469 of 11 August 2017 laying down a standard format for the presentation of an insurance product information document. Its provisions shall be followed in the drafting and communication of a standard insurance contract information document, cf. Article 10 of Act No. 30/2004 on insurance contracts.

Article 3. Implementation of the regulation.

With these rules, Commission Implementing Regulation (EU) 2017/1469 of 11 August 2017 laying down a standard format for the presentation of an insurance product information document, which was incorporated into the EEA Agreement by Decision of the EEA Joint Committee No. 304/2019 of 13 December 2019, as published in the EEA Supplement to the Official Journal of the European Union No. 14 of 5 March 2020, pp. 58-59, enters into force in this country. The regulation is published in the EEA Supplement to the Official Journal of the European Union No. 23 of 31 March 2021, pp. 3-7.

Article 4. Entry into force.

These rules, which are set pursuant to the authorisation in the fourth paragraph of Article 10 of Act No. 30/2004 on insurance contracts, enter into force immediately. At the same time, the Central Bank of Iceland's Rules No. 1411/2021 on a standard format for the presentation of an information document for non-life insurance cease to be in force.

Central Bank of Iceland, 11 February 2025.

Ásgeir Jónsson Governor of the Central Bank.Rannveig Júníusdóttir Managing Director.

Department B - Publ.: 26 February 2025

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Annotations and obligations
1 obligation · 3 definitions
  • Obligation 1
  • Definition / condition 3
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RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.

Regulation (EU) 2017/1469 of 11August 2017 laying down a standar…Not in RegAlert · European CommissionRegulation (EU) 2017/1469 of 11 August 2017 laying down a standard format for the presentation of an insurance product information document — Not in RegAlert · European CommissionCentral Bank of Iceland's RulesNo. 1411/2021 on a standard forma…Not in RegAlertCentral Bank of Iceland's Rules No. 1411/2021 on a standard format for the presentation of an information… — Not in RegAlertRules on a Standard Format forthe Presentation of an Insura…2025-02-26 · this documentRules on a Standard Format for the Presentation of an Insurance Contract Information Document (2025-02-26)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (2)
Supersedes
  • Central Bank of Iceland's Rules No. 1411/2021 on a standard format for the presentation of an information…Not in RegAlert

    “At the same time, the Central Bank of Iceland's Rules No. 1411/2021 on a standard format for the presentation of an information document for non-life insurance cease to be in force.”

Issued under
  • Regulation (EU) 2017/1469 of 11 August 2017 laying down a standard format for the presentation of an insurance product information documentNot in RegAlert · European Commission

    “These rules are set to implement Regulation (EU) 2017/1469 of 11 August 2017 laying down a standard format for the presentation of an insurance product information document.”

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Source: Central Bank of Iceland — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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