Regulatory Alerts2021-01-04
Added
Amendments to the Insurance (Approved Marine, Aviation and Transit Insurers) Regulations and Insurance (Approved Marine, Aviation and Transit Brokers and Approved Reinsurance Brokers) Regulations
The Monetary Authority of Singapore issued the Amendment Regulations to implement commitments made under the United Kingdom-Singapore Free Trade Agreement regarding the liberalization of cross-border supply of international marine, aviation, and goods in transit insurance and broking. These regulations came into operation on 1 January 2021 to give effect to the trade agreement signed on 10 December 2020. The circular addresses Chief Executives of all insurers and directs them to contact their liaison officer for any queries regarding these regulatory changes.
Topics
Share