Regulatory Alerts2025-03-28
Added · Updated
GFSC Guidance Note on Insurance Product Oversight and Governance Technical Standards
The Gibraltar Financial Services Commission issued this guidance note to outline regulatory expectations for insurers and intermediaries manufacturing or distributing non-investment insurance products under the 2024 Technical Standards. The document mandates robust product governance arrangements, including proportionate approval processes, precise target market identification, and continuous monitoring to ensure products deliver fair value and meet customer needs. It further specifies additional requirements for Specified Providers regarding fair value assessments, retail premium finance, and the handling of legacy products to prevent consumer detriment.
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