Amendment to the Insurance (Conduct of Business) (Long-Term Business) Code 2018

Closed 15 Jan 2021

Opened 4 Dec 2020

Contact

Sian Eltman

(Actuary)

IOMFSA ICP Team

01624 689339

Sian.eltman@iomfsa.im

Feedback updated 9 Mar 2021

We asked

For views on the proposed amendments to the Insurance (Conduct of Business)(Long Term Business) Code 2018.

You said

Respondents found our proposed approach acceptable.

We did

We finalised the Insurance (Conduct of Business)(Long Term Business) Code 2021 for implementation on 1 July 2021.

Results updated 9 Mar 2021

Files:

Overview

The purpose of the consultation is to obtain views in relation to the proposed replacement of the Insurance (Conduct of Business)(Long-Term Business) Code 2018 with the Insurance (Conduct of Business)(Long-Term Business) Code 2021 which includes amendments to the exemptions within the code. 

Why we are consulting

We are consulting to obtain stakeholders’ views on the Authority’s proposals.

What happens next

When the consultation period has closed, the Authority will review the responses received and publish a Consultation Response document.

Subject to the responses, the Authority will proceed to make the Insurance (Conduct of Business)(Long-Term Business) Code 2021 for implementation on 30 April 2021.

Areas

  • All Areas

Audiences

  • All residents

Interests

  • Legislation
  • Policies, strategies & plans