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Glossary
International programmes

Freedom to provide services

Also: LPS

Regime that allows a European Union insurer to cover risks located in another Member State without establishing itself there.

In practice

Simplifies the programme within the European Economic Area, but does not exempt from the taxes and surcharges of the country of risk nor from its information obligations. Outside Europe, there is no equivalent.

Where it is addressed

This term is covered in Gestión del programa and applies when taking out Programas Internacionales.

Related terms

Right of establishmentRegime that allows a European insurer to operate in another Member State through a permanent branch.Non-admittedCover granted from outside the country where the risk is located, by an insurer without local authorisation.Insurance Premium TaxTax levied on the premium in the country where the risk is located, with different rates and taxpayers in each jurisdiction.Cash before coverRule in force in several countries whereby cover does not commence until the premium has been effectively paid.DIC clauseClause of the master policy that covers the guarantees not included in the local policy, elevating the subsidiary to the group's standard.DIC ClauseClause of the master policy that completes the indemnity when the limit of the local policy is exhausted before the group's standard.
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