Structured Solutions Insurance Brokers Ltd (“SSIB”) is a (re)insurance broker.

In drafting this policy SSIB is acting in accordance with the legal and statutory requirements by which it must abide as a broker and insurance manager, notably:

• The Insurance Code of Conduct August 2016
• The Insurance Brokers and Insurance Agents Code of Conduct 2019
• The Insurance Act 1978

In accordance with the aforementioned legislation and regulations, and in the interests of its clients, SSIB endeavors to market its products and services in an honest, fair and professional manner and ensure that if there is a conflict of interest that the conflict of interest is appropriately managed, including establishing and implementing policies and procedures related to appropriate disclosure and segregation of duties.

Where SSIB represents competing insurers and/or insurers that are party to the same transaction, the staff and management of SSIB must ensure they understand their duties under the laws of the jurisdiction in which those clients operate or are incorporated and carry out their duties in a diligent and proper manner in accordance with all policies and procedures including conflict of interest policies.

SSIB seeks to prevent conflicts of interest, specifically conflicts of interest that may harm the interests of one or more of its clients when these interests come into conflict with those of an insurance intermediary, those of other clients, of SSIB itself, or those of one of SSIB’s staff members who are consider the person concerned.

A conflict of interest shall refer to a conflict that may arise at any given time where there are opposed interests between several persons or entities, resulting in a potential loss for the client.

SSIB seeks to prevent conflicts of interest from harming the interests of its clients. In this context, SSIB seeks to:

• identify potential conflicts of interest;
• develop measures to prevent potential conflicts as well as procedures to manage any conflicts that may arise despite the preventative measures taken;
• inform clients of conflicts of interest that are impossible to prevent or manage;
• notify clients of conflicts of interest that are impossible to manage.
• keep a record of each identified conflict of interest

Staff must understand their duties under the laws of the jurisdiction in which those clients operate or are incorporated and carry out their duties in a diligent and proper manner in accordance with all policies and procedures including conflict of interest policies.

SSIB will avoid situations in which a conflict of interest arises between its business and that of its clients. Similarly and unless authorized to do so, it cannot enter into transactions in which it has a material interest without first disclosing it to the relevant parties. Where conflicts of interest arise SSIB must ensure that the circumstances are properly disclosed to those affected and must act at all times to ensure it does not unfairly place its own interests above those of its clients.