THE island’s financial services regulator is encouraging all insurance brokers to attend a workshop next month. The Association of Guernsey Insurance Brokers is working with the Guernsey Financial Services Commission on a workshop and seminar that aims to explain, improve and assist with the issues of compliance and regulation being carried out under the insurance intermediaries legislation that was introduced in 1998.

In particular, the GFSC is keen to work with trade associations within the financial services industry, and has welcomed the opportunity of working with AGIB on this issue.

Chairman Alex Lindsay said that the AGIB’s main objectives were to promote professionalism within the insurance broking industry in Guernsey, to represent members’ views and interests and act as their representative with the GFSC.

‘In particular it is the interface with the commission which has proved to be the main area of activity over the last two or three years, which has helped the GFSC to deal with one body representing a large proportion of insurance brokers in the island, rather than having to deal with many individual organisations,’ he said.

The AGIB was formed in 1994, as the Guernsey Association of Insurance Intermediaries, but changed its name in January 1998 to reflect its membership, who were all brokers.

Mr Lindsay said that members benefited from being to discuss problems and issues relating to the day to day business, and focus any concerns through their committee in order to take these up and discuss other relevant topics with the commission.

While the workshop and seminar is intended primarily for the benefit of AGIB members, both it and the GFSC are keen that other organisations governed by the intermediaries legislation should be invited to the seminar should they wish to attend.

* The seminar is at Les Cotils on Monday. All enquiries to Karl Richards on 700200.