Section K - Financial and Insurance Activities

Section K sits in the PSIC 2019 hierarchy. This section captures the intermediation of money and risk. It separates core financial services from insurance and the support activities that keep markets and claims moving. Common examples include Financial Service Activities, except Insurance and Pension Funding, Insurance, Reinsurance and Pension Funding, except Compulsory Social Security, and Activities Auxiliary to Financial Service and Insurance Activities.

It appears in BSP-regulated workflows, financial institution profiling and compliance reporting when the service is banking, lending, underwriting or fund administration. Typical starting points include Financial Service Activities, except Insurance and Pension Funding, Insurance, Reinsurance and Pension Funding, except Compulsory Social Security, and Activities Auxiliary to Financial Service and Insurance Activities.

Use this section only when the core output is financial intermediation or risk transfer. If the business only provides software or support to finance firms, compare Sections J or N instead. Compare child divisions such as Financial Service Activities, except Insurance and Pension Funding, Insurance, Reinsurance and Pension Funding, except Compulsory Social Security, and Activities Auxiliary to Financial Service and Insurance Activities and keep moving deeper until the wording matches the actual line of business.