Notification to The Monetary Authority of Singapore on Events of Significant Impact

Circular No. ID 10/14
30 September 2014
To Chief Executives
All Insurers
Dear Sir/ Madam
NOTIFICATION TO THE MONETARY AUTHORITY OF SINGAPORE (“THE AUTHORITY”) ON EVENTS OF SIGNIFICANT IMPACT Under the conditions of licence, a licensed insurer must immediately inform the Authority if it becomes aware of any event that may have a significant impact on the insurer, including any breach of regulations administered by the Authority or by other authorities in Singapore or elsewhere. 2 Insurers are reminded that (i) any event that leads to a compromise of the security, integrity or confidentiality of customer information, such as loss of customer data, and (ii) any breach of regulations, whether administered by the Authority or other authorities, must be reported to the Authority, as they are deemed to be events that may have a significant impact on the insurer. 3 Please contact your company’s liaison officer should you require further clarification. Yours faithfully [sent via MASNET] MS LOO SIEW YEE EXECUTIVE DIRECTOR INSURANCE DEPARTMENT