Although what appears below is the FSA's approach, it cannot
state what the law is, as that is a matter for the Courts. Accordingly, this guidance is not a substitute
for adequate legal advice on any transaction.
AUTH App 6.4.2G
The list of principles and factors is
not closed and this guidance by
no means covers all types of insurance-like business.
AUTH App 6.4.3G
The FSA will
consider each case on its facts and on its merits.
AUTH App 6.4.4G
In some cases transactions with the same
commercial purpose or economic effect may be classified differently, ie some
as insurance and some as non-insurance.
