Insurance intermediaries performing insurance mediation activities pursuant to the Act No. 38/2004 Coll., on Insurance Intermediaries and Independent Loss Adjusters shall, in accordance with the Official Communication of the ČNB of 19 September 2014, on “The management and quality control of the distribution network,” ensure continuous performance of internal control - compliance in the company.
COMPLY offers all types of insurance intermediaries external compliance services, which include the following activities:
- Creation and a continuous revision of internal regulations of insurance intermediaries (ensuring compliance with the legal regulations and opinions of ČNB)
- Creation and continuous updating of client documentation (mandatory information / minutes of the meetings) of an insurance intermediary for the proper provision of services
- Continuous internal control of compliance with legal obligations when mediating insurance, and the management of control systems of an insurance intermediary
- Training of employees and cooperating subordinate insurance intermediaries
- Coordination of communication with the ČNB (requests, state control, registration procedures, etc.)
- Coordination of complaints and insurance intermediary clients’ claims
- Coordination of interventions of insurance companies
- Participation in the settlement of disputes by the Financial Arbiter
- Consultation and advice to insurance intermediary employees
- Communicating legislative changes relevant to the activity of an insurance intermediary
- Communication with the compliance department of an insurance company
- Coordination of measures to eliminate money laundering and terrorism financing
COMPLY will provide an initial input regulatory audit of an insurance intermediary that will examine the compliance with all statutory obligations and prerequisites of an insurance intermediary. The audit will result in a final report containing a summary of the perceived deficiencies in the insurance intermediary’s activities and recommendations of appropriate remedial measures.
Are you concerned about the inspection from ČNB?
COMPLY has extensive experience with conducting ČNB state inspections at insurance intermediaries. In case you want to take advantage of our experience and eliminate potential risks for your company for failure to comply with legal obligations, please, do not hesitate to contact us. We will inspect and prepare documents required by the ČNB, prepare your staff for an on-site inspection and arrange all other necessities for a quick and uncomplicated control procedure.