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Insurance regulatory framework changing

FSA publishes '2017 Roadmap'

The Manx insurance industry regulatory framework is being significantly revamped - and government has provided a 'roadmap' for the journey.

The Isle of Man Financial Services Authority issued the advice to line up industry here with international standards.

Last time, the FSA issued a guidance programme was in 2013 - and it's since updated the information to reflect progress and work undertaken to look ahead.

It's also looking for input from sector leaders on Conduct for Business for non-life insurance, following feedback on 'Managing Conflicts of Interest' in sales.

Paul Ellison is the lead on the project - he told Tanya Humbles what it means for SME's and larger corporates respectively:

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