Regulatory Alerts2020-01-01
Insurance Intermediaries (General Business) Regulations 2020
The Isle of Man Financial Services Authority issued these regulations to establish the regulatory framework for insurance intermediaries conducting general business under the Insurance Act 2008. The rules mandate strict segregation and trust-based handling of client money, require continuous professional indemnity insurance, and impose rigorous reconciliation and record-keeping obligations on registered intermediaries. Additionally, the regulations define specific exemptions from registration and certain requirements for intermediaries authorized in other jurisdictions or licensed under the Financial Services Act 2008.
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