Types of Insurers
- Pure captive insurer - an insurer established for the sole purpose of insuring some or all of the risks of its parent
- Commercial insurer - an insurer established for the primary purpose of participating in the traditional insurance or reinsurance market
- Locally incorporated - domestic insurers incorporated in the Bailiwick of Guernsey
- Non-locally incorporated - domestic insurers incorporated overseas with a branch office in the Bailiwick of Guernsey
Insurance Company Structures
Protected cell companies (PCCs)
Incorporated cell companies (ICCs)
The Commission has, from time to time, received enquiries, including potential complaints, regarding membership schemes and service contracts which may be sold to consumers at the point of sale of goods such as mobile phones or laptops. Consumers should note that such schemes are not insurance products and are not subject to regulation by the Commission.
These schemes typically charge a monthly membership fee for a range of discretionary benefits such as replacement of lost or stolen items or repair of damaged items. Consumers may believe that they are purchasing an insurance policy and are therefore advised to check the terms and conditions of any such contracts carefully at the time of purchase.
Any contract which refers to membership of a scheme, discretionary benefits or service contract is not an insurance policy and may not be subject to regulation (depending upon the jurisdiction of the contract provider) and the Commission cannot deal with complaints regarding such schemes. Should you have a complaint regarding an insurance policy please refer to the Complaints page of this website.