Regulatory Alerts2020-07-06
Added
Annual Audits Conducted by ARB on Agents
The Monetary Authority of Singapore issued Circular ID 29/20 to support annual audits conducted by the Arbitration and Mediation Centre (ARB) on insurance agents under GIARR 2020. The regulator requires agents to fully cooperate with ARB and its appointed auditors by promptly providing all requested information. Insurers are reminded to take necessary steps to ensure their agents comply with these audit obligations to confirm adherence to the Insurance Act and relevant notices.
Topics
Share