Discretionary Civil penalties for Entities Regulated under the Insurance Act 2008

Overview

The purpose of the consultation is to obtain views and evidence in relation to the making of regulations in respect of discretionary civil penalties on entities regulated under the Insurance Act 2008.

Why your views matter

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

What happens next

Now 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 (Non Long-Term Business Valuation and Solvency) Regulations for implementation on 31 December 2020.