Regulatory Alerts2005-07-01
Added
Guidelines on Standards of Conduct for Insurance Brokers
The Monetary Authority of Singapore issued these Guidelines under the Insurance Act to establish conduct requirements for insurance brokers and their staff. The document mandates adherence to principles of integrity, client interest priority, confidentiality, competence, and due care in all broking activities. It further requires brokers to manage conflicts of interest, ensure full disclosure to clients, maintain robust complaint handling procedures, and comply with all applicable laws and regulations.