EIOPA · 2834

2834

Name: EIOPA Q&A 2834 — EU Financial Regulatory Q&A
Creator: European Insurance and Occupational Pensions Authority
License: https://creativecommons.org/licenses/by/4.0/

Regulation: Other
Submitted: 2023-10-18
Answered: 2023-11-10

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Question

Do private members of a peer-to-peer insurance network without any insurance company participating have to fulfil regulatory requirements when they insure themselves amongst each other?

Background

Me and some friends want to create a social network where we give each other protection in case of a damage, a loss. We are not sure if this "legal".

Answer

This question has been rejected because it does not relate to the consistent and effective application of the legal framework covered by this Q&A process. The definition of insurance is ruled by national legislation and therefore, it is suggested to contact the national supervisory authority.

View original on European Insurance and Occupational Pensions Authority ↗

This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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