Judgment_paragraph 17 · Card Protection Plan Ltd (CPP) v Commissioners of Customs & Excise (C-349/96)

17With respect, first, to the interpretation of the expression ‘insurance transactions’, it must be observed that Directive 73/329 does not define the concept of insurance either. However, as the Advocate General states in point 34 of his Opinion, the essentials of an insurance transaction are, as generally understood, that the insurer undertakes, in return for prior payment of a premium, to provide the insured, in the event of materialisation of the risk covered, with the service agreed when the contract was concluded.

Card Protection Plan Ltd (CPP) v Commissioners of Customs & Excise (C-349/96)

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