Amendment 12 Proposal for a directive – amending act Article 1 – point 2 Directive 2006/112/EC Article 135a – point 1 Text proposed by the Commission Amendment (1) 'insurance and reinsurance' means a commitment whereby a person is obliged, in return for a payment, to provide another person, in the event of materialisation of a risk, with an indemnity or a benefit as determined by the commitment; (1) 'insurance' means a commitment whereby one or more persons is or are obliged, in return for a payment, to provide one or more other persons, in the event of materialisation of a risk, with an indemnity or a benefit as determined by the commitment; Justification The definition of exempt transactions should allow expressly for both coinsurance or risk pooling and group insurance, as these policy types are all widely used by the insurance sector in order to cover given categories of risks.
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