Regulatory Alerts2024-10-11
Insurance & Medical Aid Fund Industry Comments Outsourcing Standard
The Insurance & Medical Aid Fund Industry has issued revised comments on its outsourcing standard to mandate stricter compliance for third-party service providers. This version 15 update, finalized on November 3, 2024, requires organizations to implement robust risk management, data security, and operational continuity protocols. Entities must align their outsourcing frameworks with these directives to maintain regulatory approval and prevent service disruptions.
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