In view of the disasters recorded during the early hours of the 7th December 2023, the Financial Services Authority (“FSA”) would like to express its solidarity and support with all those affected.
In view of such, FSA hereby notes the Insurance Association’s affirmation that necessary measures will be undertaken in order to ensure that any queries and/or grievances lodged are dealt with in a timely and collective manner.
In line with its objectives, FSA remains committed and stands ready for any queries that the general public may have.
In order to provide more clarity to policyholders and stakeholders regarding the current situation, the below Frequently Asked Questions (“FAQ”) have been prepared. However, for any further queries or clarifications, please do not hesitate to contact the FSA on +248 2643227.
Frequently Asked Questions
- Has the FSA been affected by this disaster?
Yes, we wish to advise that the FSA offices at the Sunshine Commercial Building, Providence will remain closed until further notice.
In view of such, FSA is operating via a combination of staff working in-office at the Headquarters at Bois de Rose complemented by staff working remotely to ensure the smooth running of our daily operations.
The FSA will continue to monitor the situation and will provide updates accordingly
- What is the role of the FSA in dealing with the situation?
The FSA being the regulator of the insurance sector is working actively and closely with the insurance companies in order to discuss the situation further and strategise on the way forward to deal with the matter at hand.
All policyholders are advised to contact their respective insurers and the FSA for any queries and/or grievances that they may have.
- What advise does the FSA have for the general public?
The FSA wishes to reassure the general public that it remains committed to the safety and protection of all policyholders and is available via a dedicated hotline +248 2643227 for any queries and/or issues that you may have.
- Does my Householders insurance policy cover any loss or damage?
A Householders cover will meet homeowners’ needs by providing compensation in the event you suffer damage to or loss of your home caused by any one or more perils.
In the event you took additional covers for contents to cover valuable possessions such as jewellery, paintings or furniture within your home this may also be indemnified as per the terms and conditions of your respective policy.
Please consult your broker and insurer (as applicable) for the terms and conditions of your insurance policy.
- When should I report my claim to my insurance company?
You should report your claim as soon as possible, this can be done in person, via email and telephone call to your insurer or broker (as applicable).
- Does my business interruption policy cover such loss and damage?
Please consult your broker and insurer (as applicable) for the terms and conditions of your insurance policy.
- Does my motor vehicle insurance policy cover such loss and damage?
There are two types of motor vehicle insurance policies currently being offered by various insurance company in Seychelles.
Comprehensive insurance coverage covers losses like theft, fire, vandalism, flood storm, and also have additional covers for windscreen, loss of use and personal accident.
Third-party insurance coverage protects you against any legal liability, accidental liability, or property damage in case of an unfortunate event.
Please consult your broker and insurer (as applicable) for the terms and conditions of your insurance policy.
Financial Services Authority