Consultation of the Draft Market Conduct Guideline for Registrants under the Insurance Act, 2018

August 4, 2022
CIRCULAR LETTER TO:
ASSOCIATION OF TRINIDAD AND TOBAGO INSURANCE COMPANIES INSURANCE BROKERS ASSOCIATIONS OF TRINIDAD AND TOBAGO TRINIDAD AND TOBAGO INSURANCE INSTITUTE TRINIDAD AND TOBAGO ASSOCIATION OF INSURANCE FINANCIAL ADVISORS ASSOCIATION OF COMMONWEALTH CARIBBEAN LOSS ADJUSTERS ALL INSURANCE CONSULTANTS INSURERS AND FINANCIAL HOLDING COMPANIES PURSUANT TO THE INSURANCE ACT, 2018 REF: CB-OIFI-1796/2022 CONSULTATION OF THE DRAFT MARKET CONDUCT GUIDELINE FOR REGISTRANTS UNDER THE INSURANCE ACT, 2018 (“ACT”) The Central Bank of Trinidad and Tobago has developed a Market Conduct Guideline for Registrants under the Insurance Act, 2018 (“Guideline”), to promote the existence of efficient and fair insurance markets. The draft Guideline seeks to increase the registrants’ awareness of the importance of fair treatment of all consumers in the conduct of their business and encourage compliance with market conduct standards in accordance with Schedule 11 of the Act. You are invited to provide feedback on the attached draft Guideline, which can also be accessed on the Bank’s website at https://www.central-bank.org.tt/core￾functions/supervision/insurance-sector/draft-and-consultation-papers. Comments and queries should be submitted electronically to MarketConductGuideline@central-bank.org.tt by September 13, 2022. We thank you in advance for your continued cooperation and look forward to your timely feedback. Yours sincerely Patrick Solomon Inspector of Financial Institutions FINANCIAL INSTITUTIONS SUPERVISION DEPARTMENT Cen t r al Ban k o f Tri n i d ad an d To bag o 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