Regulatory Alerts2015-06-10
Added
Clarification Note Registration of All Persons Conducting Insurance Business as Insurance Agents and Brokers
The Registrar of Long-Term and Short-Term Insurance clarifies that all persons, including clerks, account executives, and salespersons, must be registered under the Long-Term Insurance Act and the Short-Term Insurance Act if they carry out duties of insurance agents, brokers, or reinsurance brokers. This registration requirement applies regardless of whether insurance sales are the core duty, occasional, or part of a 'tick-a-box' process. The directive explicitly excludes non-commission earning employees of a registered insurer from this requirement.
More like this from NAMFISA
We email you every new NAMFISA publication the day it's published.
Topics
Share