Insurance consultation response document published
The Isle of Man Financial Services Authority has published its response to a public consultation that sought feedback on proposals to update and integrate the Insurance Regulations 2021 with simplified elements of the Insurance (Special Purpose Vehicles) Regulations 2015 and Guidance Notes for Insurance Special Purpose Vehicles into a combined single document.
The consultation included additional proposals relating to fast-track authorisation, regulatory sandboxing and potential restrictions on activities undertaken alongside regulated insurance activities.
The Authority has published a consultation response document, which details the feedback and responds to the questions raised.