Regulatory Alerts2009-01-01
Insurance (Fees) Regulations 2009
The Minister of Finance promulgated the Insurance (Fees) Regulations 2009 to mandate application, annual licence, and inspection fees payable to the regulatory Authority. The regulations prescribe tiered fee schedules for domestic and non-domestic insurers, managers, representatives, brokers, and agents, while enforcing a 25 percent surcharge for late payments. The Authority may waive specified fees and periodically review the scheduled amounts to maintain a structured financial framework for insurance licensing.
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