The Isle of Man has introduced new insurance special purpose vehicle (ISPV) Legislation which enhances the Island's already attractive insurance business offering.

The Q&A gives a high level overview of the market trends and regulatory framework in the insurance and reinsurance market; the definitions for a contract of insurance and a contract of reinsurance

The Insurance Institute of the Isle of Man have announced details of this year's Regulatory Conference, which will be held at the Sefton Hotel on Wednesday 11th November.

The Isle of Man Captive Association recently attended the Federation of European Risk Management Association (FERMA) Conference in Stockholm as part of ongoing efforts to promote the Island as the captive insurance domicile of choice.

Current market volatility caused by the restriction in global credit only serves to underscore the need for proper protection of assets, according to David Vick, Chief Executive of the Isle of Man Insurance and Pensions Authority.

The first Japanese owned reinsurance company to set up business in the Isle of Man has just received its licence to operate from the Insurance and Pensions Authority.

From August 12 2016 when the UK's Insurance Act 2015 takes effect there will be differences affecting business (ie non-consumer) policies issued in Isle of Man and those issued in UK, including renewals.

The Isle of Man's insurance industry represents one of the 'three legs' of the Island's all-important economic engine-house - along with banking and financial services.