Regulatory Alerts2014-03-20 | cba-blob-8559State Decree on the Supervision of Insurance Brokers
The Governor of Aruba has issued this State Decree to establish a comprehensive licensing regime for insurance brokers operating in the jurisdiction. The Central Bank of Aruba is mandated to grant licenses based on compliance with corporate governance, minimum equity capital, and reporting standards, while prohibiting unlicensed professional brokerage activities. The decree further standardizes commission structures, premium collection duties, and portfolio ownership rules, granting the Bank supervisory authority to issue directives, maintain a public register, and enforce compliance through license suspension or withdrawal.
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