Public Statement 27 of 2023 - BVI BOAT INSURANCE

BVI BOAT INSURANCE

Tortola, British Virgin Islands- 18 October 2023 - The British Virgin Islands Financial Services Commission (the FSC) considers it necessary to issue this Public Statement in order to protect the customers or persons who may have been solicited to conduct business by BVI BOAT INSURANCE and to make the general public aware that the entity is not a BVI company and has never been licensed or regulated by the FSC to carry on any type of insurance business or insurance broker activity in or from within the BVI.

The details are:

BVI BOAT INSURANCE is using the website address https://www.bvi-boat-insurance.com/ and is purporting to be offering boat insurance in or from within the BVI for all types of boats, including motor yachts, sailing yachts, semi-rigid boats, dinghies, sailing yachts, catamarans, barges, houseboats and jet skis. BVI BOAT INSURANCE is purporting to provide boat insurance policies which cover liability, collision and comprehensive types of coverage. The public is informed that insurance business and insurance broker business are regulated activities and may only be carried on in or from within the BVI by entities that are licensed and regulated by the FSC.

The FSC hereby informs the public that BVI BOAT INSURANCE (website address https://www.bvi-boat-insurance.com/) is not registered in the BVI as a business company and has never been licensed or regulated by the FSC to carry on any type of insurance business or insurance broker activity in or from within the BVI.

Members of the public are advised to exercise extreme caution and to avoid conducting any business with BVI BOAT INSURANCE. The public is invited to provide the FSC with any relevant information on any questionable entities that are purportedly operating in or from within the BVI and on any improper activities engaged in by such entities.

The FSC has issued this Public Statement pursuant to Section 37A of the Financial Services Commission Act, 2001.