We recently became aware that HSBC CI and IOM are halting home and travel insurance to Islanders, so we asked them to explain the reason and if they might be able to offer the service in the future.
Their Head of Communications advised: “HSBC in the Channel Islands and Isle of Man is changing the way that it provides travel and home insurance to its island customers.
"The current insurance provider is withdrawing insurance cover to island customers following changes to regulations by the UK Financial Conduct Authority which no longer allow a UK licenced insurer to invite renewals or take on new insurance business from residents in the Channel Islands and Isle of Man.
We apologise for the disruption to our customers. We are working to get a new insurance provider in place. Customers’ current insurance policies with us remain valid until their renewal date. Ahead of that renewal date, we’re writing to our customers explaining what’s happening. This doesn’t affect the packaged insurance services we provide as part of our Premier accounts.”
Is your home properly protected? Why contents insurance is worth every penny
An update on credit cards
Step-by-step guide for expats buying back UK National Insurance contributions