Are you an insurance broker and you want to start business in another EU country? You must inform the Polish Financial Supervision Authority. Details can be found below.
How to proceed
This procedure can be completed:
What you should know and who can use this service
Entities entitled to execute the procedure
An insurance broker who intends to take up the brokerage activity in the territory of another Member State of the European Union is obliged to notify the supervision authority about the fact.
When you should complete this procedure
At any time
Where you can complete this procedure
Urząd Komisji Nadzoru Finansowego
What to do step by step
Submit a notification of intent to take up the brokerage activity in the territory of another Member State of the European Union
In the notification, inform about:
- the country in which you want to operate
- the address of your branch/branches in your country
- the names of the persons authorised to represent you in that country and to manage the affairs of the branch
You can submit a document as:
The Authority will forward the notification to the competent authority in a Member State of the European Union
The Polish Financial Supervision Authority, within 30 days from the date of notice, forwards the information to the competent authority keeping the Register of Insurance Intermediaries in the Member State of the European Union in the territory of which the insurance broker intends to pursue the activity, along with information that the insurance broker is entered in the register kept by the Supervision Authority.
The notification is not forwarded if the Member State of the European Union in the territory of which the insurance broker intends to take up the activity has not expressed its will to receive such information.
30 days from the date of notice
The authority will provide you with information
The Polish Financial Supervision Authority informs you that:
1) the information has been forwarded to the relevant authority in the Member State of the European Union where you intend to pursue the activity of insurance broker or
2) the Member State of the European Union has not expressed its will to receive such information.
Making changes in the Register of Brokers
The Polish Financial Supervision Authority makes a change in the Register of Insurance Brokers by entering:
a) a list of Member States where the activity is pursued,
b) the address of the insurance broker's branch or representative office in the Member State where the activity is to be pursued, if such a branch or representative office has been established.
How much you will have to pay
The service is free of charge
How long you will have to wait
If you intend to operate in another EU country, the Polish Financial Supervision Authority will notify the relevant authority in that country within 30 days.