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Part 2 · Provisions for direct insurance and reinsurance  ›  Division 3 · Other non-life insurance › Section 161

Accident insurance with premium refund

(1) Insofar as accident insurance undertakings write insurance with refund of the premium, sections 138, 139, 140(1), sections 141, 142, and 145(4), and section 336 apply correspondingly.
(2) Immediately after commencing the business of accident insurance with premium refund, the insurance undertaking must notify the supervisory authority of the principles for calculating the premiums and premium reserves, including the actuarial bases used, mathematical formulae, calculation derivations, and statistical evidence, attaching these; this applies correspondingly where new or amended principles are used.

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