Appointment of TTII as Approved Educational Institution Under Insurance Act 2018

CENTRAL BANK OF TRINIDAD & TOBAGO
Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 621-CBTT (2288), 235-CBTT (2288); Fax:(868) 612-6396 E-Mail Address: info@central-bank.org.tt Website: www. central-bank. org. tt October 6, 2021 CIRCULAR LETTER TO ASSOCIATION OF TRINIDAD AND TOBAGO INSURANCE COMPANIES (ATTIC) TRDSTIDAD AND TOBAGO INSURANCE INSTITUTE (TTIl) TRINTOAD AND TOBAGO ASSOCIATION OF INSURANCE FINANCIAL ADVISORS (TTAIFA) INSURANCE BROKERS ASSOCIATION OF TMNIDAD AND TOBAGO (BATT) ASSOCIATION OF CARIBBEAN COMMONWEALTH LOSS ADJUSTERS REF: CB-OIFI-2270/2021 COMPLIANCE WITH SECTIONS 119 (2) AND (3) OF THE WSURANCE ACT, 2018 AS IT PERTAINS TO APPROVED EDUCATIONAL INSTITUTIONS The Central Bank of Trinidad and Tobago (the Central Bank) advises all stakeholders that pursuant to Sections 119(2) and (3) of the Insurance Act, 2018 (the Act), the Minister of Finance, upon consultation with the Centa-al Bank has appointed the Trinidad and Tobago Insurance Institute (TTII) as an approved educational institution for all or any combination of the following purposes:
(a) to supervise and administer the examinations referred to in Part IV of the Act and the Regulations; (b) to supervise and administer Continuous Professional Development (CPD) activities; (c) to provide written verification that the activities listed in a CPD return constitute CPD activities; (d) and such other purposes as the Central Bank may require. TTII's appointment is for a period of three years with effect from January 1, 2021 as detailed under cover of letter dated March 31, 2020 in the first instance and the institution shall be eligible for reappointment for further periods of not less than twelve (12) months but no more than three (3)years. Should additional details be required on approved educational institutions and the implementation of the CPD requirement, kindly refer to Regulations 8 to 18 of the Insurance (Intermediaries) Registration Regulations, 2020. Yours sincerely <eKtL/<- Patrick Solomon INSPECTOR OF FINANCIAL INSTITUTIONS