Roadmap for updating the Isle of Man's regulatory framework for insurance business
The Insurance and Pensions Authority has issued today a Roadmap for updating the Isle of Man’s regulatory framework for insurance business (“the Roadmap”).
The Roadmap provides an overview of the work currently in progress to update the Isle of Man’s insurance regulatory framework, consistent with the Island’s commitment to adhere to relevant international standards.
It explains why and where change is necessary and how the IPA will approach the task, working closely with relevant stakeholders. It also identifies key elements of the project and the timing of main workstreams and milestones.
The Roadmap will be relevant to all existing and prospective insurance licenceholders of the IPA and will also be of interest to other parties involved in the Isle of Man insurance sector for example, auditors, legal firms, banks, investment managers and other professional advisers, may also be affected as a consequence of those changes.
Please see a copy of the Roadmap.