Regulatory Alerts2024-01-10
Added
Guidelines on Risk Management Practices for Insurance Business - Insurance Fraud Risk
The Monetary Authority of Singapore issued these guidelines to establish risk management practices for identifying and mitigating insurance fraud exposure. The document mandates that insurers embed specific principles within their risk management frameworks to effectively prevent and detect fraudulent activities. It supersedes the previous version dated 1 November 2012 and takes effect on 10 January 2024.