Regulatory Alerts2021-04-29
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FSCA Communication 8 of 2021 (INS) New Insurance Conduct of Business Returns
The Financial Sector Conduct Authority has published a new version of the Insurance Conduct of Business Returns, mandating short- and long-term insurers to submit updated reporting forms via its website. The revised CBR 2021-V1 introduces updated terminology, additional questions on distribution channels and claims management, and a postponed transition to XML format in favor of a cross-sectoral Omni-CBR. This updated reporting framework takes effect on 1 May 2021, with the first submission due by 30 July 2021 for the April to June reporting period.
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