Regulatory Alerts2021-12-30 | JPRF-S-2021-007Added · Updated
JPRF-S-2021-007 — Determination of Accumulation Amount, Coverage, and Contribution Percentage for Private Insurance
The Financial Policy and Regulation Board (JPRF) issued Resolution JPRF-S-2021-007 to establish the financial parameters for the Private Insurance Fund for the 2021-2022 period. The resolution sets the basic contribution at 0.15% of net direct premiums and defines risk-adjusted variable contributions ranging from 0.0432% to 0.22% based on external credit ratings. Additionally, it increases the fund's accumulation target to USD 75,000,000 and maintains the maximum coverage limit at USD 1,500 per insured person or beneficiary for the 2022 fiscal year.
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