Regulatory Alerts2018-12-31 | 24088Added · Updated
Insurance Act, 2018
The Insurance Act, 2018 repeals and replaces the previous Insurance Act to reform the legal framework for insurance companies, regulate insurance businesses, and oversee privately administered pension fund plans. It establishes the Central Bank of Trinidad and Tobago as the primary regulator and defines key terms, obligations, and thresholds for insurers, agents, brokers, and other intermediaries. The Act applies to all persons carrying on insurance business in Trinidad and Tobago, including foreign entities, and sets out requirements for licensing, capital bases, and conduct of business.