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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

group policy

    11a non-investment insurance contract which a person enters into as legal holder of the policy on his own behalf and for other persons who are or will become policyholders and:

      1. (a) those other persons are or become policyholders by virtue of a common employment, occupation or activity which has arisen independently of the contract of insurance;
      1. (b) the common employment, occupation or activity is not brought about, in relation to the contract of insurance, by
        1. (i) the insurance undertaking which effects it or carries it out; or
        1. (ii) any activity which if carried on by a firm would be an insurance distribution activity64; and
      1. (c) the risks insured under the policy are related to the common employment, occupation or activity of the policyholders.