Regulatory Alerts2008-01-01
Insurance (Insurance Brokers) Rules 2008
The Financial Services Commission of Mauritius issued these rules to regulate the conduct, financial practices, and independence of licensed insurance and reinsurance brokers. Brokers must maintain separate fiduciary premium accounts, restrict remuneration to non-volume-based structures, and explicitly disclose broker fees and commissions to clients before policy placement. The regulations mandate strict reporting of audited financial statements and quarterly business placements, enforce ownership independence thresholds, and establish clear grounds for licence revocation or suspension.
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