Regulatory Alerts2020-08-20
Added
Amendments to MAS Notice 321
The Monetary Authority of Singapore issued Circular No. ID 31/20 to amend MAS Notice 321 regarding Critical Illness definitions for Direct Purchase Insurance products. The amendments align the 30 covered Critical Illness conditions with the updated names and definitions established in the Life Insurance Association's CI Framework 2019. These regulatory changes take effect on 26 August 2020 to ensure consistency with industry standards.
Topics
Share