Regulatory Alerts2004-12-16
Added
Registration of Short-Term Insurance Agents, Brokers and Re-Insurance Brokers
All registered broker and agent businesses must register their in-house agents with NAMFISA. No unregistered in-house agents are permitted to conduct business after March 16, 2005. Any unregistered in-house agent continuing to carry on insurance business after this date commits a criminal offence and is liable to prosecution, and short-term insurers are instructed to refrain from doing business with such agents.