The Guernsey Financial Services Commission has withdrawn the requirement for authorised insurance representatives who provide advice on long-term insurance business to attain the Guernsey Insurance Certificate, with immediate effect.

The GIC was a compulsory qualification both in respect of the provision of advice on permanent health, credit life assurance and any contracts on human life that are renewable annually and also for AIRs who have been authorised as financial advisers in accordance with the requirements of the Insurance Intermediaries (Conduct of Business Rules) 2014.

The GFSC has updated the 'training and competence' page on its website together with its guideline on T&C schemes.