Axa Insurance Limited

BACKGROUND The Firm's authorisation and core business The Firm is a Non-Life Insurance Undertaking, authorised by the Central Bank under the European Union (Insurance and Reinsurance) Regulations 2015 to carry out non-life insurance business. The principal activity of the Firm is the provision of motor and other non-life insurance. It is the second largest insurance provider in the Republic of Ireland. On-site inspection In November 2014, the Central Bank’s Consumer Protection Supervision Division conducted an onsite inspection of the Firm’s branch office in Derry and the Firm’s Head Office in Dublin. The inspection focused on the Firm’s claims department, in particular on the team whose main function 3 is to process motor and property claims. Members of that team operate a ‘prescribed script function’, which means that they operate within a narrow and rigid set of criteria and according to a prescribed script and routine. During the course of the inspection, a number of suspected breaches of the MCR, the MCC and the 2012 Code were identified. PRESCRIBED CONTRAVENTIONS MCR The MCR required firms to ensure that individuals operating according to a prescribed script and routine must:  refer requests for additional information and advice to an appropriately accredited individual; and  be supervised by an appropriately accredited individual. Between January 2008 and November 2011, the Firm failed to ensure that members of the claims team which operated according to a prescribed script function referred requests for additional information and advice to, or were supervised by, appropriately accredited individuals. MCC Sections 1.