The Commission is pleased to release a discussion paper on the development of green insurance in Guernsey. The paper considers how the Bailiwick might become a supportive jurisdiction for green insurance and welcomes feedback from third parties. The fundamental challenge of a warming planet is not going to go away and there will be a continuing demand for measures to mitigate climate change.
In recent years, both insurers and insurance regulators have begun to consider how to respond to climate change. Therefore, this paper sets out how the Commission might support the development of green insurance in Guernsey through regulatory change and considers private sector opportunities.
The discussion paper forms part of Guernsey's Green Finance initiative and follows the Commission's launch of the first regulated green fund rules earlier in the year. The latter is designed to give enhanced certainty to those wishing to make high quality green investments.
The discussion paper can be found here.
The Commission would be grateful for feedback and would draw attention to the list of questions on page 9 of the paper. Respondents are encouraged to submit their comments online using the Commission’s Citizen Space Consultation Hub which can be found here.
Responses may also be sent to [email protected] or in writing to:
Lynn Harris
Banking and Insurance Division Telephone: 01481 712706
Guernsey Financial Services Commission Fax: 01481 726952
Glategny Court
Glategny Esplanade
St Peter Port
GY1 4HQ
Closing date for responses to the paper is 29 March 2019.
Jeremy Quick
Director of Banking and Insurance Division