Discretionary Civil penalties for Entities Regulated under the Insurance Act 2008

Closed 24 Jun 2022

Opened 6 May 2022

Feedback updated 21 Dec 2022

We asked

For views on the proposed Insurance (Civil Penalty) Regulations 2023.

You said

Subject to some requests for minor changes and clarifications, respondents found the Insurance (Civil Penalties) Regulations 2023 were generally acceptable.

We did

We are in the process of finalising the Insurance (Civil Penalty) Regulations 2023 for implementation in April 2023.


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.


  • All Areas


  • All residents


  • Finance