Regulatory Alerts2008-01-03
Added
Guidelines on Market Conduct and Service Standards for Direct General Insurers
The Monetary Authority of Singapore issued these guidelines to establish market conduct and service standards for direct general insurers writing personal general insurance products in Singapore. The document requires insurers to adhere to the Singapore General Insurance Code of Practice developed by industry associations to ensure fair treatment, transparency, and high service quality for customers. It further mandates that insurers implement robust procedures to manage reputation risks, resolve customer disputes promptly, and maintain good faith in all transactions.