Regulatory Alerts2020-12-22 | 29787Added · Updated
Proclamation of the Insurance Act 2018 and Related Regulations and Guidelines
The Central Bank of Trinidad and Tobago proclaimed the Insurance Act 2018, excluding sections 184 and 185, effective January 1, 2021. The Minister of Finance enacted nine specific regulations, including those on capital adequacy and intermediaries registration, alongside an amendment to supervisory fee regulations, all effective from the same date. The Central Bank issued new Claims and Post Sales Communication guidelines and required adherence to a revised policy approval guideline. Existing guidelines on corporate governance and asset measurement remain applicable unless inconsistent with the new Act.