Regulatory Alerts2022-01-10
Regulation 15 of the Regulations Under the Long-Term Insurance Act
The insurance regulatory authority issued Regulation 15 of the Regulations Under the Long-Term Insurance Act to standardize compliance and operational requirements for licensed insurers. This regulation establishes updated reporting protocols, capital adequacy thresholds, and consumer protection mandates that market participants must follow. Following its final update on November 1, 2024, the rule enforces version 114 of the statutory framework and supersedes prior administrative guidelines.
Share