Insurance

The Commission has today issued a draft guidance note in respect of outsourcing for insurers licensed under the Insurance Business (Bailiwick of Guernsey) Law, 2002. The aim of the guidance note is to clarify the requirements for those licensees with regard to outsourcing. Interested parties are invited to provide comments on the proposed guidance, to be submitted in writing by no later than 18 th...

The Commission has today issued a consultation paper making proposals in respect of Regulations applicable to insurance managers and intermediaries licensed under the Insurance Managers and Insurance Intermediaries (Bailiwick of Guernsey) Law, 2002. The Approved Assets Regulation Consultation Paper proposes amendment to the Insurance Managers and Insurance Intermediaries (Approved Assets)...

The Commission is seeking to work with the global insurance industry to ensure that long-term green investments can be effectively taken on as assets to meet long-term life insurance liabilities. This initiative seeks to fulfil two aims: the first is to make it easier for insurance companies to access long-term investments that in turn will make it easier for insurance companies to offer...

Two-factor authentication (“2FA”) functionality is now available on the Online Submissions Portal. This is in line with the Commission’s commitment to continually improving the security of licensee data. If your organisation promotes the use of 2FA, then please ensure that your portal users opt in to use the functionality. A guide with instructions is available here.

Following release on 15 th March 2018 of the draft Regulation of Fiduciaries, Administration Businesses & Company Directors, etc. (Bailiwick of Guernsey) Law, 2018 for engagement (see here for the news article), the Commission will be hosting a drop-in session on 19 th April 2018 between 8.30am and 9.30am. Please join us to discuss the draft Law and have a coffee and a croissant. The engagement...

The Commission is seeking feedback on the provisions of the draft Protection of Investors Law, the draft Regulation of Fiduciaries Law and the definitions which are proposed to be used across the revised supervisory laws and specifically whether these may have any unintended consequences or contain fatal flaws. The Commission has published engagement papers in relation to these setting out the...

The Commission is seeking feedback on the provisions of the draft Regulation of Fiduciaries Law specifically whether the amendments may have any unintended consequences or contain fatal flaws. The engagement paper which the Commission has published sets out the topics upon which assistance is requested and questions regarding unintended consequences and whether there are any significant issues in...

To allow further time for consideration, the deadline for feedback on fatal flaws and unintended consequences for the draft Protection of Investors Law has been extended to 11 April 2018. More information about the engagement can be found here. If you have any queries, please contact Siobhan Mahoney-Bougourd on 01481 732332.

Following release on 1 February 2018 of the draft Protection of Investors (Bailiwick of Guernsey) Law, 2018 for engagement (see here for the news article), the Commission will be hosting a drop-in session on 22 March 2018 between 8.30am and 9.30am. Please join us to discuss the draft Law and have a coffee and a croissant. The engagement paper in relation to the amendment to the Protection of...