Regulatory Alerts2012-01-01
Insurance (Restriction of Insurers) Regulations 2012
Issued by the Vice-President and Minister of Finance and Trade of Seychelles, these regulations require all persons to secure insurance for assets situated locally through insurers licensed in the country. The mandate excludes contracts concluded before March 1, 2012, reinsurance agreements, and specific cases where the regulatory Authority grants exemptions for unique risk circumstances. Effective March 1, 2012 under the Insurance Act of 2008, the rules apply to all real and personal assets within Seychelles, including registered ships and aircraft.
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