Under the laws of the Bailiwick of Guernsey, any insurer conducting insurance business, that is the sale of insurance products in or from the Bailiwick, is required to be licensed by the Commission. Once licensed, these insurers are supervised by the Commission on an ongoing basis.
The Bailiwick also allows certain overseas insurers to accept insurance risks within the Bailiwick. The Commission publishes a list of jurisdictions and any insurer regulated within that jurisdiction may write Bailiwick risks.
An insurer outside of those jurisdictions must apply to the Commission to be a recognised insurer. If you wish to check whether an insurer is recognised, please contact the Banking and Insurance Supervision and Policy Division at the Commission.
The sale of insurance products may also be carried out through insurance intermediaries, commonly referred to as insurance brokers. Such insurance intermediaries are equally required to be licensed by the Commission. They are able to offer advice on the best insurance product to suit the client’s requirements.