Hi
There is no point in going to the DFSA, they do not regulate Nexus in Dubai. According to Nexus' website "
Nexus Insurance Brokers LLC- regulated by the UAE Insurance Authority under registration number 207 and Commercial license number 583403."
https://www.nexusadvice.com/legal/
So it is the Insurance Authority that you need to contact, and they do have a complaints section on their website
:
https://smartservices.ia.gov.ae/ecom...plaint?lang=en
The problem is that the Insurance Authority was only established in the past few years and, given that you bought the policy before that, they may decline to deal with it. Worth a try though.
As for the IOMFSA, I do think that they are being disingenuous in saying that their financial jurisdiction only goes back to 2010. The IOMFSA was created in by merging the previous regulators, being the Insurance and Pensions Authority (‘the IPA’) and the Financial Supervision Commission (‘the FSC’).
ZIL was regulated by the IPA before IOMFSA was created. Article 5(1) of the relevant Act provides that:
"The functions of the existingStatutory Boards and the Supervisor are transferred to the new Statutory Board."
http://www.tynwald.org.im/links/tls/...15-SD-0090.pdf
So the IOMFSA took over from and seamlessly continued the functions of the IPA (which in turn had been established in 1986).
I don't think the IOMFSA can wash their hands like this - can you please post the precise wording that they used?