Regulatory Alerts2004-11-24 | 24091Added · Updated
Insurance Act, 1980
The Insurance Act establishes the regulatory framework for insurance business and privately administered pension fund plans in Trinidad and Tobago. It mandates the registration of insurance companies, agents, brokers, and pension fund plans with the Supervisor of Insurance, while prohibiting unregistered entities from conducting such business. The Act defines the Supervisor's administrative powers, including the authority to refuse registration, cancel registrations, impose requirements, and intervene in company operations. It further sets out specific obligations regarding statutory funds, solvency margins, actuarial investigations, and the protection of policyholders' interests.