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MINIMUM PROFESSIONAL KNOWLEDGE AND COMPETENCE REQUIREMENTS (as referred to in Article 10(2) I Non-life risks classified under classes 1 to 18 in Part A of Annex I to Directive 2009/138/EC:

(a) minimum necessary knowledge of terms and conditions of policies offered, including ancillary risks if covered by such policies;

(b) minimum necessary knowledge of applicable laws governing the distribution of insurance products, such as consumer protection law, relevant tax law and relevant social and labour law;

(c) minimum necessary knowledge of claims handling;

(d) minimum necessary knowledge of complaints handling;

(e) minimum necessary knowledge of assessing customer needs;

(f) minimum necessary knowledge of the insurance market;

(g) minimum necessary knowledge of business ethics standards; and (h) minimum necessary financial competency.

II Insurance-based investment products:

(a) minimum necessary knowledge of insurance-based investment products, including terms and conditions and net premiums and, where applicable, guaranteed and non-guaranteed benefits;

(b) minimum necessary knowledge of advantages and disadvantages of different investment options for policyholders;

(c) minimum necessary knowledge of financial risks borne by policyholders;

(d) minimum necessary knowledge of policies covering life risks and other savings products;

(e) minimum necessary knowledge of organisation and benefits guaranteed by the pension system;

(f) minimum necessary knowledge of applicable laws governing the distribution of insurance products, such as consumer protection law and relevant tax law;

(g) minimum necessary knowledge of the insurance market and of the saving products market;

(h) minimum necessary knowledge of complaints handling;

(i) minimum necessary knowledge of assessing customer needs;

(j) conflicts of interest management;

(k) minimum necessary knowledge of business ethics standards; and (l) minimum necessary financial competency.

III Life risks classified in Annex II to Directive 2009/138/EC:

(a) minimum necessary knowledge of policies including terms, conditions, the guaranteed benefits and, where applicable, ancillary risks;

(b) minimum necessary knowledge of organisation and benefits guaranteed by the pension system of the relevant Member State;

(c) knowledge of applicable insurance contract law, consumer protection law, data protection law, anti-money laundering law and, where applicable, relevant tax law and relevant social and labour law;

(d) minimum necessary knowledge of the insurance and other relevant financial services markets;

(e) minimum necessary knowledge of complaints handling;

(f) minimum necessary knowledge of assessing consumer needs;

(g) conflicts of interest management;

(h) minimum necessary knowledge of business ethics standards; and (i) minimum necessary financial competency.