Glossary

Data controller
A person who (either alone or jointly or in common with other persons) determines the purposes for which and the manner in which any personal data are, or are to be processed.

Data processor
In relation to personal data, means any person (other than an employee of the data controller) who processes the data on behalf of the data controller.

EEA
European Economic Area (EEA) represents all EU member countries with the addition of the following countries: Iceland, Liechtenstein and Norway.

EHIC
European Health Insurance Card (EHIC) is a free card that provides the holder to state-provided healthcare during a temporary stay in any of the EEA member countries under the same conditions and for the same cost as individuals insured within that country. Refer to the EU commission website for more details. 

EIOPA
European Insurance and Occupational Pensions Authority. This is the European body that issues directives and regulations applicable to EU insurers and insurance intermediaries. Refer to their website for more information. 

EU
The European Union (EU) consists of 28 member countries (prior to Brexit). A list of these countries can be found here.

EU27
This refers to the EU countries after the withdrawal of the United Kingdom.

FCA
Financial conduct authority. The FCA is one of the regulatory bodies in the UK, governing financial service companies. Refer to their website for more information.

Green card
The Motor Insurers’ Bureau defines the Green Card as an international certificate of insurance proving that visiting motorists have the minimum compulsory insurance cover required by the law of the country visited. The Green card system covers 48 member countries, including EEA countries. Further details on the green card can be found here.

IDD
Insurance Distribution Directive. This relates to EU Directive 2016/97. This directive regulates the way insurance products are designed and sold both by insurance intermediaries and directly by insurance undertakings. The IDD can be accessed here.

Passporting
A firm registered in an EEA country uses the concept of passporting to conduct business in any other EEA country without needing to obtain additional authorisation from each country.

SII
Solvency II

SII directive
This refers to EU Directive 2009/138/EC, adopted in November 2009 and amended by EU Directive 2014/51/EU in April 2014. The implementation rules relating to SII were adopted in the Delegated Regulation (Delegated Regulation (EU) 2015/35). Refer here for additional information.