Liability ― insurance ― categories and terms

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides information about categories and terms related to insurance and their VAT treatment.

For an overview of the scope of the VAT exemption for insurance, see the Liability ― insurance ― overview guidance note.

Block insurance

A supplier that is not an insurer may arrange insurance cover as principal on behalf third parties. Such insurance is often referred to as block insurance.

The main features of a block insurance policy are:

•
a holder of an insurance policy acting in its own name has procured insurance cover for third parties from an insurer
•
there is a contractual relationship between the holder of the insurance policy and the third parties under which the insurance is cover is procured
•
the contract between the holder of the insurance policy and the insurer allows the holder of the insurance policy to effect insurance cover subject to certain conditions
•
the holder of the insurance policy stands in place of the insurer in effecting the supply of insurance to the third parties

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