Regulatory Alerts2005-07-01
Added
Guidelines on Market Conduct and Service Standards for Insurance Brokers
The Monetary Authority of Singapore issued these guidelines to establish market conduct and service standards for direct and exempt insurance brokers dealing with general insurance customers. Although non-mandatory, the Authority expects all brokers and their staff to adhere to the minimum standards set out in the jointly developed Singapore General Insurance Code of Practice. These guidelines serve as general guidance to foster professional standards and enhance industry confidence without overriding legislative provisions under the Insurance Act.