INFORMATION TO BE PROVIDED TO CLIENTS BY INSURANCE BROKER (Implementing Insurance Supervisory Commission of the Republic of Lithuania decree No. N-30 as of March 16, 2004)

UADBB Legator insurance brokers, before issuing insurance policy and if necessary modifying or extending it, shall provide the following information:

1. Joint-Stock Insurance Broker Company Legator
   Company code – 145347184.
   Address: Voveriškių Str. 45-3, 78128 Šiauliai, Lithuania
   Registered office located at: V. Bielskio Str. 30A, 76147 Šiauliai, Lithuania
   was registered in the Register of Legal Entities on July 8, 1997. Certificate issued: January 5, 2005, No. 046985.
   License to perform activity of insurance broker issued on December 14, 2004, license No. 000048.
   The list of insurance broker companies is announced at Insurance Supervisory Commission of the Republic of Lithuania website www.dpk.lt
   
   
2. UADBB Legator has no direct or indirect insurance company, insurance company of other EU member or any other foreign country shares or investments, which could provide more than 10 percent of voting rights or make more than 10 percent of capital assert. Also insurance companies or any patronizing company of insurance companies has no direct or indirect shares and any other capital parts of UADBB Legator, which would provide more than 10 percent of voting rights or make more than 10 percent of capital assert.
   
   
3. Suggesting to purchase an insurance policy UADBB Legator advises as an independent insurance mediator and shall provide the below information:
         •  If mediation activity is performed on behalf of the insurer, the insured, benefit receiver or the suffered third party, the insurance broker shall advise after performing precise analysis of insurances available in the market, in order, based on professional criteria, to be able to advise the client purchasing the insurance policy meeting his needs. Based on the information provided by the client insurance broker shall precisely assess and specify the client’s needs and requirements, indicate the main reasons of advising on particular insurance policy. Information shall be stated considering complexity of the insurance policy. The client shall be provided a possibility to select an insurer at least of two insurers providing the same or similar services based on insurance security;
          •  Insurance Broker Company is an independent insurance mediator being authorized to perform mediation activity on behalf of the insurer. Considering the client’s needs, the company shall give a possibility to select the same or similar services by other insurers based on insurance security. In such case, at the client’s request the broker shall provide names of insurance companies, which may be or are collaborated.
    
   
4. When suggesting to purchase an insurance policy UADBB Legator shall provide the client with information specified in articles No.78 and 99 of the Insurance Law of the Republic of Lithuania.
   
   Article 78. Information for the Insured
   1. Before signing non-life insurance the insurer or his authorized representative shall provide the insured – natural entity with the following:
   1) Information specified in article 6.993, part 8 of Civil Code;
   2) Information on Law applicable to the insurance policy. If the parties of insurance policy may select the Law, the Law suggested by the insurer.
   2. Within the policy validity period the insurer shall immediately notify non-life insurance policy holder, the insured – natural entity, on any modification of information specified in part 1 of this article. 
   3. After purchasing insurance policy the insured shall be issued an insurance certificate (policy) and a copy of individual insurance policy if such. 
   4. If after signing the insurance contract the insured addresses the insurer with request to issue copies of insurance rules or individual insurance contract, insurance policy, the insured written statement to conclude the insurance contract and any other documents supporting insurance contract, the insurer shall issue required copies after the insured makes a payment of agreed amount not exceeding copies issuing costs (if payment is anticipated in the insurance contract). 
    5. When this article allows individual insurance contract term consideration, the insurer shall inform the insured about suggested insurance term and consequences. This individually discussed term is valid only if the insured states in writing being familiar with the term and agreement to include it as a part of insurance contract.
   
   Article 99. Information for Life Insurance Policy Holder 
   1. Before signing life insurance contract the insurer or his authorized representative shall provide the insured with information specified in article 78, part 1 of the present Law and notify the insured in writing on:
   1) available insurance contract terms regarding insurance amounts and insurance benefits, which may be selected by the insured when concluding insurance contract,  insurance premiums for each option of selected insurance amount and insurance benefit; 
   2) available insurance policy validity terms;
   3) insurance contract termination terms and ways, including the insured right to terminate life insurance contract in accordance with preferential conditions of the procedure specified in article 107 of the Law;
   4) insurance premium payment procedures and period;
   5) insurance benefit value assessment, payment procedure and manner;
   6) rate of interest, principles of estimating the insurer benefit out of the insured benefit and benefit distribution ways, redeemable amount calculation procedure and rough estimates of redeemable amount if insurance contract is related to capital accumulation;
   7) if based on the insurance contract the risk of investments goes to the insured – potential objects of the investments, their complexion, revenue from investment within the last three years;
   8) essential information about taxation applicable to insurance contracts procedure.
   2. During insurance contract validity period the insurer shall immediately in writing inform the insurer about the below stated:
   1) any change of the insurer name, legal form or registered office and respective information change if insurance contract is concluded by the insurer affiliate;
   2) change of information specified in part one of this article, if there are changes in insurance rules or law applicable for insurance contract.
   3. Every year the insurer based on insurance contract terms shall inform in writing the insured on the benefit amount out of the insurer benefit, redeemable amount if insurance contract is related to capital accumulation. 
   4. Information shall be clear and transparent.
   5. Information shall be in Lithuanian or other language at the insured request and coordinated with the insurer.
   
   
5. All information, which shall be provided to the client by insurance broker in accordance to this decree, is provided on paper or other long term storage data medium acceptable to the client and defined clearly to the client. Information shall be stated in official language of UE member state or any other language agreed between the parties.
   
   
6. Information specified in this decree may be provided orally if it is required by the client or insurance security is required immediately. In such cases information is provided right after the insurance contract is signed according to the established requirements.
   
   
7. When insurance broker services are provided on phone, information shall be provided in advance complying with requirements for services provided to clients by the means of communication facilities. Moreover, information to the client shall be provided immediately after signing the contract.
   
   
8. Based on procedure of Civil Code Insurance, broker company shall cover damage to, the policyholder, the insured, benefit receiver or the third party if the company failed to perform its duties. Complaints regarding insurance broker’s activity shall be submitted to Insurance Broker Chamber (www.dbr.lt) in accordance to procedures established by LR Insurance Law.