Regulatory Alerts2019-05-09
FSCA Communication 4 of 2019: Standardized Application and Notification Forms for Insurance Regulations
The Financial Sector Conduct Authority (FSCA) has published seven standardized application and notification forms to streamline insurer compliance with the Long-term and Short-term Insurance Acts and the Policyholder Protection Rules. Insurers must now direct specific submissions regarding binder agreements, fee approvals, remuneration arrangements, exemptions, policy delivery postponements, and new microinsurance or funeral product launches to designated email addresses rather than the previous central inbox. These templates are immediately available on the FSCA website for electronic filing, with a secure web-based Data Upload Facility scheduled for future implementation to automate the process.
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