Regulation 2

In these Regulations —“advisory service” means any risk advisory service, or other advisory service relating to any insurance policy;“direct insurer” has the same meaning as in section 2 of the Insurance Act 1966; “direct life insurer” means a direct insurer licensed under section 11 of the Insurance Act 1966 to carry on life business;“insurance broking services” means the services of direct insurance broking or reinsurance broking, or both;“life business” has the same meaning as in section 3(1)(a) of the Insurance Act 1966;“risk advisory services” means the design, structuring, modelling and implementation of any risk management programme using an insurance policy.