Stakeholders

• Insurance Companies issue their clients (policyholders) with policies which are the basis of claims settlements and in the event of an insolvency of the insurer, the basis of the compensation amount payable.
• Insurance companies contribute to the Fund through the payment of a levy equivalent to 0.25% of their premium receipts.
• Insurance Companies benefit from the increased confidence of policyholders created by the existence of the Fund which ultimately contributes to stability and growth of the sector.
• Insurance Companies also appoint two representatives to sit in the Fund’s Board of Trustees.

Insurance Service Providers

1. Brokers
   • An Insurance Broker is an entity that represents the interests of the policyholder to ensure they receive a fair deal from the Insurance Company.
   • As representatives of the policyholders, they have an in depth understanding of their needs and are therefore important partners to the Fund.
   • Insurance brokers appoint one representative to sit in the Fund’ Board of Trustees.
2. Loss Adjusters
   • Surveyors are professionals appointed by Insurance companies to independently assess, qualify and report on the actual loss or damage and quantify the claim payable under the policy for purposes of avoiding false claims.
   • They serve as a link between the insurer and the insured and usually function only in non life business. Their job is to assess the actual loss and avoid false claims.
3. Agents

4. The Government