Regulatory Alerts2015-06-10
Added
Clarification Note of Registration 2015
The Registrar reiterates that all persons, including clerks, account executives, and salespersons, who perform duties of insurance agents, insurance brokers, or reinsurance brokers must be registered under the Long-Term Insurance Act and the Short-Term Insurance Act. This registration requirement applies regardless of whether insurance constitutes the core duty, is occasional, or involves only 'tick-a-box' transactions. Every individual involved in selling, soliciting, or explaining insurance to the public must be registered, excluding non-commission earning employees of a registered insurer.