- (a) is not a contract of long-term insurance (as defined by article 3 of the Regulated Activities Order);
- (b) has a total duration (including renewals) of five years or less;
- (d) covers the risk of:
- (i) breakdown, loss of, or damage to, non-motor goods supplied by the provider; or
- (ii) damage to, or loss of, baggage and other risks linked to the travel booked with the provider ("travel risks") in circumstances where:
- (A) the travel booked with the provider relates to attendance at an event organised or managed by that provider and the party seeking insurance is not an individual (acting in his private capacity) or a small business; or
- (B) the travel booked with the provider is only the hire of an aircraft, vehicle or vessel which does not provide sleeping accommodation;
- (e) does not cover any liability risks (except, in the case of a contract which covers travel risks, where the cover is ancillary to the main cover provided by the contract);
- (f) is complementary to the non-motor goods being supplied or service being provided by the provider; and
- (g) is of such a nature that the only information that a person requires in order to carry on one of the insurance mediation activities is the cover provided by the contract.
- (h) the transfer of possession of an aircraft, vehicle or vessel under an agreement for hire which is not:
- (ii) any other agreement which contemplates that the property in those goods will also pass at some time in the future;
- (i) "small business" means a sole trader, body corporate, partnership or an unincorporated association which had a turnover in the last financial year of less than £1,000,000 (but where the small business is a member of a group within the meaning of section 262(1) of the Companies Act 1985 (and after the repeal of that section, within the meaning of section 474(1) of the Companies Act 2006), reference to its turnover means the combined turnover of the group);
- (j) "turnover" means the amounts derived from the provision of goods and services falling within the business's ordinary activities, after deduction of trade discounts, value added tax and any other taxes based on the amounts so derived.
a non-investment insurance contract which: