1.

This Section shall apply to Community co-insurance operations which shall be those co-insurance operations which relate to one or more risks classified under classes 3 to 16 of Part A of Annex I and which fulfil the following conditions: the risk is a large risk; the risk is covered by a single contract at an overall premium and for the same period by two or more insurance undertakings each for its own part as co-insurer, one of them being the leading insurance undertaking; the risk is situated within the Community; for the purpose of covering the risk, the leading insurance undertaking is treated as if it were the insurance undertaking covering the whole risk; at least one of the co-insurers participates in the contract through a head office or a branch established in a Member State other than that of the leading insurance undertaking; the leading insurance undertaking fully assumes the leader’s role in co-insurance practice and in particular determines the terms and conditions of insurance and rating.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.