Regulatory Alerts2015-03-10
Added
Circular on Waiting Periods
Registered insurers, insurance agents, brokers, and reinsurance brokers must implement measures to ensure policyholders are aware of applicable waiting periods, such as requiring signed confirmation of this information. These entities are prohibited from making misrepresentations regarding waiting periods, with violations rendering them liable for cancellation of their registration. Registered insurers must submit assurances from their Principal Officer confirming the implementation and effectiveness of these measures by 30 June 2015.
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