Regulatory Alerts2026-01-01
Insurance Act Extract Sections 64 and 65
The Commission requires registered associations of underwriters to submit annual financial returns, compliance certificates, and membership lists within three months of each financial year's end. The Commission may suspend an association's registration if it breaches the Act, provided it issues a written notice detailing the breach, appeal rights, and a remediation period. If the association fails to comply with the notice, the Commission may extend the deadline or immediately suspend the registration.
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