Regulatory Alerts2017-08-25 | 29556Adequate Reserving Required Under Section 172 of the Insurance Act, Chap 84:01
The Insurance Sector regulator mandates that licensed insurers maintain adequate financial reserves in compliance with Section 172 of the Insurance Act, Chap 84:01. This requirement ensures that companies hold sufficient capital to meet policyholder obligations and absorb potential losses. Failure to adhere to these reserving standards may result in regulatory sanctions or operational restrictions for non-compliant entities.
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