Regulatory Alerts2016-01-01
CBI Board of Directors Resolution No. 121 of 2016
The Capital Market Authority issued Resolution No. 121 of 2016 to amend Resolution No. 122 of 2015 regarding the electronic issuance and distribution of certain standard insurance policies. The amendment formally introduces 'microinsurance policies' as a new category and expands authorized distribution channels to include licensed microinsurance premium collection channels and other entities specifically regulated under microinsurance executive controls. The resolution mandates the Authority's Chairman to issue a separate decision defining microinsurance and its specific electronic distribution technical and executive controls.
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