How does a Gibraltar insurance company insure a risk in another EU state ?
A company wishing to set up a branch in an EEA state, or to provide insurance services there, has to notify the Commissioner of Insurance for Gibraltar and provide him with certain information (including a full business plan in the case of a branch operation). Once he has considered the application, the Commissioner will notify the company, within certain well defined time limits, that it may (assuming the Commissioner approves the application) start business in the EEA state. Clearly local insurance legislation in the EEA state in question (such as policy language, premium taxes etc.) has to be complied with.
