Regulatory Alerts2021-01-01
Insurance (Conduct of Business)(Long Term Business) Code 2021
The Isle of Man Financial Services Authority issued this binding guidance to regulate the conduct of business for long-term insurance products under the Insurance Act 2008. It mandates regulated entities to implement fair treatment principles, robust product oversight, and clear disclosure requirements including Key Information Documents. The code also establishes specific procedures for broker terms, cancellation rights, and post-sale disclosures to protect policyholders.
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