Draft amended Insurance Managers and Insurance Intermediaries PII Rules for fatal flaws comments

Closes 5 Aug 2022

Opened 10 Jun 2022

Overview

Background

In our December 2021 Consultation Paper on Professional Indemnity Insurance we asked for feedback on the proposed changes to requirements concerning professional indemnity insurance (“PII”) for insurance managers and insurance intermediaries. 

A feedback statement on the CP can be found at the link below. Alongside the feedback statement the Commission has issued final drafts of the relevant amended Rules wording, taking into account comments received during the consultation. A final eight-week consultation period is being offered to provide an opportunity to identify any “fatal flaws” in the draft amended Rules, after which amendments will be formally adopted. 

Excerpts of the draft amended Insurance Managers Rules and Guidance, 2021 and the draft amended Insurance Intermdiaries can be found below. 

 

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Audiences

  • Insurance Managers
  • Insurance Intermediaries