Telerad Property & Casualty Insurance Corporation - Advisory Warning No. 1 of 2011 (2011-06-16)

Summary

This is a public advisory issued by the BVI Financial Services Commission warning that Telerad Property & Casualty Insurance Corporation is no longer licensed or regulated to conduct insurance business in or from within the British Virgin Islands. The company's licence to conduct general insurance business had already expired on 31 December 2007.

• Nature of alert: Confirms Telerad Property & Casualty Insurance Corporation holds no current licence and is not regulated by the FSC.
• Background: The company was formerly licensed to conduct general insurance business from within the Territory, but that licence expired on 31 December 2007.
• Public guidance: Members of the public are advised to exercise extreme caution when conducting any transactions with this entity.

This is a purely informational public warning notice; it does not impose any ongoing compliance obligations on regulated entities.

Applies to

general insurance business (formerly licensed insurer)