Registration of Adjusters Under Section 110(2) of the Insurance Act, 2018

February 15, 2022
CIRCULAR LETTER TO:
ALL ADJUSTERS
ASSOCIATION FOR THE CARIBBEAN COMMONWEALTH LOSS ADJUSTERS REF: CB-OIFI-372/2022 REGISTRATION OF ADJUSTERS UNDER SECTION 110(2) OF THE INSURANCE ACT, 2018 The Central Bank of Trinidad and Tobago (“Central Bank”) wishes to draw to the attention of all adjusters the requirement of Section 110(2) of the Insurance Act, 2018 (“Act”), which guides the registration status of adjusters under the Act:
(2) “No individual shall, in respect of any class and type of insurance business, carry on business as a broker, agent, sales representative, or adjuster unless he is registered under this Part.” The Central Bank advises that all officers carrying on the business of an adjuster on behalf of a corporate adjuster are required to be registered under Part IV, Intermediaries, of the Act. The Central Bank asks all relevant officers who are not yet registered to submit the Form 11, Application for Registration as an Adjuster (Individual) together with the supporting documents by March 31, 2022. Please be guided accordingly. We look forward to your usual cooperation. Yours sincerely Patrick Solomon INSPECTOR OF FINANCIAL INSTITUTIONS Cen t r al Ban k o f Tri n i d ad an d To bag o Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 621-CBTT (2288), 235-CBTT (2288); Fax: (868) 612-6396 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt