Regulatory Alerts2020-01-01
Insurance (Amendment) Act, 2020
The Parliament of Trinidad and Tobago enacted the Insurance (Amendment) Act, 2020 to amend the Insurance Act, 2018 by updating definitions, regulatory powers, and compliance requirements. The legislation strengthens the Central Bank's oversight by introducing new provisions for controlling shareholders, restructuring, and the issuance of registration certificates. It also clarifies the scope of insurance business, enhances confidentiality obligations, and establishes procedures for vesting orders during insurer reorganizations.
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