Consultation Paper on Rules for Retail General Insurers

Today, the Commission issued a Consultation Paper on Retail General Insurers. General, as opposed to life, insurance concerns coverage for house contents, bikes, health costs and so on. Guernsey already offers such insurance on a global basis and aims to grow this business. To support this aim, the Commission intends to develop further the current regulatory regime. This involves a strengthening of requirements around governance, financial strength and systems and controls. The consultation will run until 1st June 2023.

The Consultation Paper can be found on the Commission's Consultation Hub: https://consultationhub.gfsc.gg/.