Regulatory Alerts2022-05-11 | 29485Added · Updated
Enrolment in Alternative Dispute Resolution Scheme under Section 250A of the IA, 2018
The Central Bank of Trinidad and Tobago clarifies that insurers already party to the existing agreement with the Financial Services Ombudsman (FSO) Scheme are considered enrolled in an approved alternative dispute resolution scheme for compliance with Section 250A of the Insurance Act, 2018. This directive exempts these entities from the requirement to enroll within the sixty-business-day window following the Act's January 1, 2021 commencement. The guidance applies to all insurance companies and relevant industry associations in Trinidad and Tobago.
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