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Fees Consultation Released 21 December 2006

The Insurance and Pensions Authority has released two sets of draft regulations for consultation.

The proposed Insurance (Amendment) (Fees) Regulations 2007 have the effect of increasing the annual fee charged to authorised insurers, and, by extension, to non-EU domiciled permit holders.

The proposed Insurance Intermediaries (General Business) (Amendment) (Fees) Regulations 2007 have the effect of increasing the annual registration fee charged to general insurance business intermediaries.

Both sets of draft regulations, along with their associated consultative documents, are available for review and downloading via the Authority’s website at:

http://www.gov.im/ipa/insurance/regulations/consultativedocuments.xml

The closing date for submission of comments or questions regarding the draft Regulations is 19th January 2007.

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