Article 10
Organisations, undertakings and institutions
In regard to life insurance, this Directive shall not apply to the following organisations, undertakings and institutions:
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(1) |
organisations which undertake to provide benefits solely in the event of death, where the amount of such benefits does not exceed the average funeral costs for a single death or where the benefits are provided in kind; |
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(2) |
the ‘Versorgungsverband deutscher Wirtschaftsorganisationen’ in Germany, unless its statutes are amended as regards the scope of its capacity; |
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(3) |
the ‘Consorcio de Compensación de Seguros’ in Spain, unless its statutes are amended as regards the scope of its activities or capacity. |