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Consultative Document - Insurance (Valuation of Long Term Liabilities) Regulations 2007 25 June 2007

The Insurance and Pensions Authority has released a consultative draft of the Insurance (Valuation of Long Term Liabilities) Regulations 2007 and invites comments from interested parties. A consultative document on the matter, which includes a copy of the draft regulations, is available for download from the Authority’s website here.

The purpose of the regulations is to set out rules for the calculation and disclosure of long term insurance liabilities by the appointed actuaries of Isle of Man insurance companies. The regulations are intended to codify requirements that are, to a large extent, already in place in this regard.

The IPA invites comments on the draft regulations by 1st August 2007. Contact details for responses or queries are included within the consultative document.

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