Industry update

New fee rates for insurance businesses effective from 1 October 2021

Following consultation in August, we are increasing insurance business fees by 4%.

This increase is made up of:

  • A 3.5% increase in line with inflation (RPI of 3.5% in June 2021); and
  • A 0.5% increase as a contribution towards our liquidity reserves.

Businesses will shortly receive a notification about their fee invoice via their myJFSC account.

Feedback on proposals to change fee rates for insurance businesses