Insurance Sector Bonds Survey

[LOGO] CENTRAL BANK OF TRINIDAD & TOBAGO
Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 625-4835; 4921; 5028; Fax: (868) 627-4696 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt

January 22, 2015

CIRCULAR LETTER TO ALL GENERAL INSURANCE
COMPANIES AND ATTIC SECRETARIAT

REF: CB-OIFI-171/2015

Dear Sir/Madam,

Bonds Survey

The Central Bank of Trinidad and Tobago (the Central Bank), as part of its on-going monitoring of the insurance sector, requests insurance companies to submit the following information on their business in respect of bonds:

1. Underwriting guidelines and procedures for Bonds business
2. Sample Bond contract(s)
3. Sample proposal or application form
4. The attached Bonds Survey Form listing the individual bonds issued since January 01, 2011.
5. A list of all claims and enquiries about potential claims since January 01, 2009 on business issued prior to January 01, 2011. Claims that were denied or did not proceed should also be included. A short précis of the circumstances and the current status including paid and reserved amounts should be provided.

The aforementioned information should be submitted by email to rpopplewell@central-bank.org.tt by February 27, 2015. The Survey Form can also be found on the Central Bank’s website under the heading “Surveys” at: http://www.central-bank.org.tt/content/legislation-guidelines-and-letters. If this survey does not apply to your company please advise us accordingly.

We look forward to your contribution to this initiative of the Central Bank.

Yours sincerely,

[SIGNATURE]

Michelle Chong Tai-Bell
Chief Actuary
Financial Institutions Supervision Department