Insurance Code of Conduct for BVI domestic insurers,
insurance intermediaries, and loss adjusters to take effect July 6,
2021
The BVI Financial Services Commission recently
announced the issuance of the Regulatory (Insurance Code of
Conduct) Code, 2021 (Insurance Conduct Code) and the
Regulatory (Amendment) Code, 2021 (Amendment Code) both of
which come into force on July 6, 2021.
The Insurance Conduct Code
The Insurance Conduct Code introduces a framework to govern the
market conduct of domestic insurers, insurance intermediaries, and
loss adjusters. It lays out requirements for market conduct,
including general conduct principles and specific rules for
insurers, insurance intermediaries, and loss adjusters
accordingly.
