2020-03-25 | 29657

Regulatory Treatment of Payment Deferrals or Skipped Payments Due to COVID-19 Measures

The insurance sector regulator has issued this directive to standardize the regulatory treatment of payment deferrals or skipped payments arising from COVID-19 measures. It requires financial institutions to adjust capital and provisioning calculations so that temporary payment adjustments do not trigger regulatory penalties. Institutions must apply this treatment consistently across affected policies and update their reporting frameworks accordingly.

Trinidad and Tobago

Central Bank of Trinidad and Tobago

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Insurance Sector Regulatory Treatment of Payment Deferrals or Skipped Payments Due to COVID-19 Measures Share