Seal of the Federated States of Micronesia

Commissioner Sana’s Message

FSM Insurance CommissionerThank you for visiting the website of the Insurance Board of the Federated States of Micronesia. We hope the information you find here will be useful and easy to access. Please do not hesitate to contact us if we can be of service to you. My staff and I are here to help you

Our philosophy is to regulate to yes. We seek to be a fair regulator of the business of insurance, to protect our citizens, and to support the commercial and economic growth of our nation. This means that we believe in both the importance of sound, sensible regulation of insurance as well a willingness to work with our insurance companies to ensure that their needs are being met. To achieving this specific goal, we see it to be imperative to promote an open dialogue with relevant parties and stakeholders and uphold accountability and transparency in the system. Equally important, we strive for professional excellence in our work, and hopeful for a healthy, productive and cooperative working environment between us as the regulatory authority and the other equally and important parties and partners

In addition to our growing captive insurance community, commercial insurance serves a vital role to support the commerce in our nation. Our staff is committed to safeguard the interests of our citizens who purchase insurance to protect themselves, their homes and businesses. Both insurers and policyholders expect us ensure compliance with applicable laws and regulations and my staff is committed to meeting this expectation

We have a dedicated team of professionals to serve the needs of our citizens as well as to serve the global captive insurance community. By law, our principal duties are: 

  1. To regulate insurance business, 
  2. To undertake the licensing and supervision of insurers and intermediaries, 
  3. To protect the interests of policyholders,  and 
  4. To promote a sound and functioning insurance system in the nation

Once again, welcome to our website and we look forward to working with you and serving you.

Chairman Habuchmai’s Message

ChairmanOn behalf of the Insurance Board, WELCOME to our website!

Our website is intended to assist you so you know who we are, what we do, and why. Feel free to contact our staff if you do not find what you are looking for or need additional information. We want to know what information may be of interest to you or how we could be of any better assistance to you, whether be on regular or captive insurance, or both.

The Insurance Board is here to provide oversight to the insurance marketplace in the Federated States of Micronesia. To that purpose we want to let you know that we are open for business. We want the insurance companies who do business in our country to be successful and the Insurance Board is committed to the fair regulation of both regular and captive insurance companies to make that happen. We commit ourselves to making sure the insurance system is sound, safe, stable, fair, and healthy for every person.

Wishing you a pleasant and insightful experience on our platform.