General Insurance Intermediaries Consultation Paper
Feedback updated 11 Apr 2018
We asked
Our consultation paper proposed developments and enhancements to the regulatory framework in relation to General Insurance Intermediaries. It included for consideration replacement Regulations and a draft Code on conduct of business requirements for the General Insurance Intermediary sector.
You said
We received 13 responses from interested parties.
We did
The Authority has considered all of the comments and suggestions received, and has had meetings with stakeholders to further discuss the comments prior to proposing some amendments to the original proposals. A paper providing details of the consultation feedback, the Authority’s responses and the detail of the amended proposals is set out in Consultation Response CR18-02/T08 published on the Isle of Man Government’s Consultation Hub.
Results updated 11 Apr 2018
Files:
- CR18-02 - Summary of comments in response to Consultation Paper CP17-07, 923.0 KB (PDF document)
Overview
The Isle of Man Financial Services Authority has today issued a consultation paper, CP17-07/T08, in respect of general insurance intermediation business. The paper builds on the feedback received in response to the Authority’s initial discussion paper on the work stream established to review developments in the supervision of general insurance intermediaries ('DP16-07'), and sets out in more detail proposals for changes to the Authority’s regulatory framework for general insurance intermediaries, including draft binding guidance and draft Regulations for further consideration.
Why your views matter
Having reviewed the feedback to its discussion paper DP16-07, the Authority issues for consultation CP17-07/T08 which sets out the Authority’s expectations for developments and enhancements to its existing regulatory framework in relation to the general insurance intermediary sector, principally through a Draft Code focussing on conduct of business requirements and Draft Regulations.
CP17-07/T08 also sets out the Authority’s initial views on changes to certain existing exemptions from registration and the future treatment of overseas intermediaries providing cross border services.
Areas
- All Areas
Audiences
- Employees
- Self-employed
- Students
- Business owner
- Other non-resident - business interests
Interests
- Legislation
- Policies, strategies & plans
- Finance
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