Regulatory Alerts2020-12-23 | 29687Added · Updated
Requirements to Operate as a Foreign Adjuster
The Central Bank of Trinidad and Tobago mandates that foreign adjusters notify the Inspector of Financial Institutions at least sixty days prior to entry and submit specific registration documents, including proof of foreign registration and a letter of good standing. Sponsoring entities must immediately report any extensions or the completion of work, while the Inspector retains the authority to declare the end of a catastrophe period. Unauthorized operation after such a declaration constitutes an offence punishable by a fine of one million five hundred thousand dollars and two years imprisonment.