Team Casualty Insurance Company Limited - Advisory Warning No. 4 of 2010 (2010-08-11)

Summary

This is a public advisory warning issued by the British Virgin Islands Financial Services Commission (FSC) under Section 4(1) of the Financial Services Commission Act, 2001, alerting the public that Team Casualty Insurance Company Limited is no longer licensed to carry on insurance business in or from within the BVI.

• Section 55: Failed to seek the Commission's prior approval to discontinue its business in the BVI.
• Section 73: Used a prescribed word in its company name.
• Section 22(1)(a) and (b): Failed to submit annual reports to the Commission since 2005.
• Section 17: Failed to pay the annual licence fee since 2007.

The FSC advises members of the public to exercise extreme caution when conducting any transactions with Team Casualty Insurance Company Limited, since it is not authorised to carry on insurance business in or from within the British Virgin Islands.

Applies to

insurance companies, members of the public dealing with Team Casualty Insurance Company Limited