Skip to content.Skip to navigation.Skip to search.

DNB logoDNB logo

Open Boek Toezicht

How to apply successfully

Relevant for:
in
Validity:
valid 
Date:
26 june 2017
Status
Factsheet
Reference:
01861
Author:
DNB

All institutions applying for authorisation as an insurer will want the procedure to progress as quickly as possible and will want to be issued authorisation. We do everything in our power to ensure a smooth and straightforward consideration process.

You can positively influence the process yourself. This is how. We have looked at successful past applications to identify success factors. Obviously, complete and correct applications will be more successful.

These are the success factors for a smooth application for authorisation.

  • Thorough preparation
    It helps if you are aware of the work involved in making an application, and why and how we assess its components. We have put the following background information on our Open Book on Supervision website for your convenience.
    • The relevant sections of the law, so that you know the statutory provisions that apply. (Tip!)
    • Notes to the authorisation application form, listing for each item what we expect you to do. (Tip!)
    • Verify carefully whether your company qualifies for Solvency II or Basic authorisation .
    • Verify carefully whether your company actually needs authorisation for its activities, preferably with the help of a legal expert. (Tip!)
    • If you have a complex application, we recommend that you contact us first to discuss the details prior to submitting it.

  • Fully completed application
    This may sound like stating the obvious, but if your application is incomplete, we cannot start considering it and will ask you to provide additional information. This will take time, and the consideration period will not start. So be sure to submit a complete application. You will find more detailed instructions in the application form and the explanatory notes to the form.

  • The standard of your application
    If you thoroughly substantiate your application, demonstrating for each aspect how you satisfy the authorisation requirements, we will be able to assess all aspects of your application swiftly. High-quality information provides strong evidence in support of your application and enables us to complete the procedure in less time.

  • Consult an expert
    Practice has shown that applications are often more complete and of a substantially higher quality if the applicant sought advice, for example from a legal consultant or an auditor. We can assess a complete and well-substantiated application quicker and better.

  • Checklist
    The following points are often overlooked in applications for authorisation, so we would advise you to check them before submitting your application.
    • Does your institution have sufficient capital at its disposal (own funds and solvency)?
    • Is segregation of assets guaranteed? (safeguarding of funds)?
    • Are financial statements available that we can verify?
    • Has an independent auditor issued an unqualified opinion on your financial statements?
    • Are there any integrity issues or professional history antecedents involving proposed policymakers or co-policymakers that we need to know about? Applicants sometimes propose to appoint management board members on whom we, or another supervisory authority, previously issued a negative decision or who have come under criminal investigation. Be sure to check these points before submitting your application.

Information on applying for authorisation as an insurer

  • Authorisation as an insurer - overview

Authorisation, yes or no?

  • Definition of insurance
  • Four categories of insurers
  • Insurance activities requiring authorisation
  • Solvency II authorisation
  • Basic authorisation
  • Exemption from the authorisation requirement

Applying for authorisation

  • Applying for authorisation
  • Application form and notes to the form
  • Application process (10 steps)
  • Application processing timelines
  • Application fees

Background information

  • Prohibition on operating as an insurer without authorisation
  • Health insurance
  • Public register
  • EEA insurers
  • Legislation and regulations governing market access for insurers

News and contact

  • Current developments and events
  • Contact
Respond to this page
Sector
  • Banks
  • Clearing institutions
  • Collect­ive invest­ment schemes
  • Crypto service providers
  • Electronic money institutions
  • Exchange transaction
  • Insurers
  • Investment firms
  • Payment institutions
  • Pension funds
  • Premium Pension Institutions
  • Trust offices
Laws and EU Directives
  • CRD IV en CRR
  • Act on the Supervision of Trust Offices (Wet toezicht trustkantoren – Wtt)
  • Anti-Money Laundering and Anti-Terrorist Financing Act
  • Payment services in the internal market
  • Regulations establishing European Supervisory Authorities
Related topics
  • Solvency II: General notes
  • Good practice document for outsourcing by insurance companies
  • Declarations of no-objection (DNOs) for group companies
  • Initial screening for second-tier senior officers
more
Related Q&A
  • Account information services provision and other business activities
  • [For consultation][Closed] Draft Q&A on recognition of risk mitigation techniques using reinsurance contracts in the Solvency II Standard Formula
  • Assessment Framework for DNB Information Security Examination
  • Procedure for international individual value transfer to a non-EU/non-EEA institution
more
Related Downloads
  • Application form for a Solvency II
  • List of General good provisions - insurance undertakings
Navigatie Nederlands Home
  • DNB.nl
  • Sector
  • Laws and EU Directives
  • Home
  • Contact
  • Sitemap
  • Nederlands
Advanced search
© De Nederlandsche Bank
Disclaimer Cookies Privacy Verklaring Open Boek Toezicht