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The Isle of Man is a Crown Dependency of the United Kingdom, with over 1000 years of political and economic stability. The island is situated in the centre of the Irish Sea to the North of Liverpool, England. Most institutions with which we place business are authorised insurance companies based in the Isle of Man. This gives our clients additional peace of mind, provided by the Isle of Man Assurance (Compensation of Policyholders) Regulations 1991. These regulations provide a high level of protection for those holding policies issued by an Isle of Man based life assurance company. Brief details of the Regulations are as follows:
• All Isle of Man authorised life assurance companies are covered. Membership is a pre-requisite to authorisation in the Isle of Man.
• All policyholders are protected world-wide.
• The arrangements will become operative should an authorised company be unable to meet its obligations to policyholders.
• The protected policyholder will receive up to 90% of the intended benefit.
• There is no upper limit to the amount of compensation available.
• In the event of failure of an authorized company, compensation will be provided by a levy on the remaining companies.
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