The IID prepares an annual report on its activities for the financial year and sends this to the Minster of Finance for review.

The Commission of the Supreme Audit, an independent organisation within the Ministry of Finance, inspects the IID. Checks are carried out to ensure that the IID’s mechanisms of financial control are satisfactory and that the IID operates efficiently and economically.

The IID consults with insurance companies and seeks their views when any key changes to insurance regulations are being developed.