Scope of the authorisation

(1) The supervisory authority grants the authorisation for an indefinite period, unless the scheme of operations indicates otherwise. The authorisation is valid for the territory of all member states or contracting states.
(2) For undertakings intending to conduct only direct insurance, or both direct insurance and reinsurance, authorisation is granted separately for each of the classes of insurance named in Annex 1. It relates in each case to the whole class, unless the undertaking, according to its scheme of operations, intends to cover only part of the risks of that class of insurance. Authorisation may also be granted jointly for several classes of insurance under the designations named in Annex 2.
(3) For undertakings intending to conduct exclusively reinsurance, authorisation is granted for non-life reinsurance (property and casualty reinsurance, including personal reinsurance insofar as it is not life reinsurance), for life reinsurance, or for all types of reinsurance. Authorisation is granted for all types of reinsurance unless the application or the scheme of operations indicates otherwise.
(4) Authorisation granted for one or more classes of insurance also covers the coverage of additional risks from other classes of insurance, where those risks are connected with a risk of a class of insurance conducted, relate to the same subject matter, and are covered by the same contract. Risks falling under the classes of insurance named in Annex 1, points 14, 15, and 17, are not covered as additional risks by the authorisation to conduct other classes. Risks falling under the class of insurance named in Annex 1, point 17, are, however, covered by the authorisation for other classes under the conditions of the first sentence, where they relate to disputes or claims arising from, or connected with, the use of ships at sea, or where authorisation is granted to conduct the class named in Annex 1, point 18, letter a.