The Emergency Service Levy Insurance Monitor has expressed concern about the relatively poor rate of broker compliance with a recent Notice requesting information about the issue of section 30 notices to policyholders.
The Notice was sent to insurance brokers in November.
NIBA recently met with the Emergency Services Levy Insurance Monitor to discuss the progress of the phasing out of the ESL insurance levy when this concern was raised.
We urge all insurance brokers to pay careful attention to the Notice, which is issued under the Monitor legislation. The Monitor has the power to impose penalties for non-compliance with a Notice issued under the legislation.
If you are not sure whether you have to comply with the Notice, or you believe you do not need to comply with the Notice, it is important that you contact the Monitor’s office in order to clarify and confirm the situation. You should contact the office via email addressed to email@example.com
The Monitor has also included a new section on its website specifically for insurance industry participants. Information about the Monitor’s activities and requirements are included in this section of the website.
NIBA will continue to liaise with the Monitor’s Office in relation to these matters.