PINS A3.8.4 Certain contracts not included

(1) If an insurer underwrites contracts of insurance in PINS category 1 that are long-term insurance contracts, the insurer need not calculate an outstanding claims risk component in respect of those contracts.
(2) For contracts of insurance in PINS category 1 that are long-term insurance contracts, the insurer must calculate a long-term insurance risk component.
Amended by QFCRA RM/2015-1 (as from 1st July 2015).