Regulatory Alerts2024-01-10
Added · Updated
Amendments to Guidelines on Risk Management Practices for Insurance Business - Core Activities and Guidelines on Risk Management Practices for Insurance Business - Insurance Fraud Risk
The Monetary Authority of Singapore has revised the Insurance Business Guidelines and Fraud Risk Guidelines to align with international standards and enhance clarity. These updated frameworks apply to all insurers and set out sound practices for core activities such as product development, underwriting, and claims handling. The revisions also strengthen risk management practices specifically designed to mitigate insurers' exposure to insurance fraud risk.
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