RIVIERA INSURANCE SERVICES LIMITED

Limits on what they may do

• Voluntary Requirement

  Riviera Insurance Services Ltd FRN 786116 (“the Firm”) applies to the Financial Conduct Authority (the “FCA”) under section 55L(5)(a) of the Financial Services and Markets Act 2000 (“the Act”) for the FCA to impose the following requirements (“Requirements”) on the Firm’s Part 4A permission, as set out in the terms below. Scope of limitation 1) Neither the Firm, nor any of its ARs (for so long as the Firm shall be principal for any such AR, and such AR is acting within the scope of its appointment by the Firm) (“Relevant AR”), shall from the Effective Date, carry on any insurance distribution activity in the UK which brings about, or has a view to bringing about, the entry of any customer into any Non-Admitted Insurance (defined below), and such distribution activity is referred to below as “Non-Admitted Activity”. For the avoidance of doubt, such distribution activity includes arranging new policies and renewing any existing policies in relation to contracts of insurance effected by an overseas insurance undertaking (“OIU”, as defined below). 2) Without prejudice to the generality of paragraph 1 above, where, prior to the Effective Date, a customer of the Firm, or any of its ARs, entered into any Non-Admitted Insurance contract (“Prior Insurance contract”), then, in respect of such Prior Insurance contract, the Firm and its Relevant ARs shall not undertake any Non-Admitted Activity or other activity (whether or not amounting to insurance distribution or other regulated activity) referred to in the table at PERG 5.15.4 (and any such Non-Admitted Activity or other activity is referred to below as “Restricted Activity”) save that the Firm and any Relevant AR may, from the Effective Date, carry on or undertake any activity provided for in Schedule 1 attached (“Permitted Activity”). Definitions and interpretation 3) In this application terms have the meaning specified in the Glossary of the FCA’s Handbook as at the Effective date unless otherwise specified. 4) In these Requirements: 5) AR – appointed representative 6) Non-Admitted Insurance (contract)- a contract of insurance by an OIU 7) Renew- carrying forward a contract, at the point of expiry and as a successive or separate operation of the same nature as the preceding contract, between the same contractual parties 8) Overseas insurance undertaking / OIU- an insurance undertaking which has its registered office (or, if it has no registered office, its head office) outside the United Kingdom and is not an authorised person under the Act SCHEDULE 1 Permitted Activities 1. The regulated activity of assisting in the administration and performance of a contract of insurance (as per Article 39A of the Regulated Activities Order) provided that this is only for or on behalf of a customer. 2. To the extent not amounting to the above regulated activity, the handling (including receipt and transmission) of: a. information or documentation about a policyholder and/or the risks covered under a contract of insurance, and/or b. return or adjustment premium where a policy has been cancelled, amended or otherwise changed, provided that such handling is for or on behalf of a policyholder, or for the purposes of compliance with any regulatory rule, including PRIN 12, ICOBS 2.5.-1R and/or DISP 1.3.1R.