DP18-03/T18 - Public disclosure for authorised insurers

Closed 28 Feb 2019

Opened 17 Dec 2018

Feedback Updated 15 Oct 2019

We Asked

Ahead of a formal consultation exercise we issued a discussion paper to seek views on a possible regulatory framework for public disclosure.

You Said

We received a wide range of comments that whilst overall supportive, expressed a range of views on the potential scope and complexity of disclosure requirements being considered with no overall consensus.  The Authority was requested to have regard to proportionality and developments in other jurisdictions.

We Did

We have considered your comments and will use those to inform development of the framework for further consultation.

Overview

This discussion paper looks at the prospective development of a regulatory framework in the Isle of Man for the disclosure of information about Isle of Man insurers to support their stakeholders (for example policyholders, lenders and creditors) in making relevant decisions about those insurers.

Why We Are Consulting

The purpose of this discussion paper is to seek initial views from Isle of Man insurers and their stakeholders about such a framework. Views received will be considered by the Authority in engaging further with the insurance market on this topic and developing a draft regulatory framework for future public consultation.

Areas

  • All Areas

Audiences

  • Anyone from any background

Interests

  • Finance