Regulatory Alerts2015-07-06
Added · Updated
MAS Notice 211 - Minimum and Best Practice Training and Competency Standards for Direct General Insurers
Direct general insurers must ensure their insurance agents are registered with the Agents’ Registration Board and meet specific age, residency, academic, and certification requirements, including the CGI qualification. The notice mandates that relevant persons, such as staff selling insurance or advising on claims, possess the CGI qualification before engaging in these activities, subject to limited grandfathering and exemption provisions. Non-mandatory best practice standards require insurers to implement training plans and maintain records for continuous professional development. The notice applies to all direct general insurers other than marine mutual insurers and financial guarantee insurers.
More like this from MAS
We email you every new MAS publication the day it's published.