Regulatory Alerts2022-01-01
Minimum Requirements for the Appointment and Supervision of Insurance Agents in Fiji
The Reserve Bank of Fiji issued this policy to establish minimum standards for the appointment, licensing, and supervision of insurance agents under the Insurance Act 1998. It mandates that nominated insurers ensure agents meet specific competence, fit and proper, and ethical criteria while maintaining detailed registers and providing annual training. The document outlines agent responsibilities, complaint management procedures, and the Reserve Bank's oversight powers, including the authority to suspend or cancel licenses for non-compliance.
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