RegAlert2014-03-12
Added · Updated
Third Party Administrators for Health Insurance Regulations 2014
The regulations prohibit any person from operating as a Third Party Administrator (TPA) for health insurance without registration with the Securities and Exchange Commission of Pakistan. Eligible applicants must be companies with a paid-up capital of at least 50 million rupees and shareholders’ equity of 30 million rupees, with existing TPAs required to register within three months. The rules define specific functions, prohibit TPAs from underwriting insurance or linking remuneration to loss ratios, and mandate that at least one director or key officer be a qualified medical doctor.
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SEC P
Insurance Division
Karachi
Reference No: ID/PRDD/PDW-II/TPAR/2014/
Date: March 12, 2014
**Circular No: 6 of 2014**
**Subject: Third Party Administrators (TPA) for Health Insurance Regulations, 2014**
In exercise of the powers conferred by section 40 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997) read with clause (u) of sub-section (4) of section 20 having been previously published in the newspapers of wide circulation for eliciting public comments, the Securities and Exchange Commission of Pakistan with the approval of the Policy Board, is pleased to issue the Third Party Administrators for Health Insurance Regulations, 2014 through S.R.O 160 (I) / 2014 dated March 10, 2014.
The Third Party Administrators for Health Insurance Regulations, 2014 have been placed on the SECP website at the following URL:
http://www.secp.gov.pk/circulars/pdf/2014/Third-Party-Administrators-for-Health-Insurance-Regulations-2014.pdf
Syed Nayyar Hussain
Director
**Distribution:**
1. Chief Executives of all Life and Non-Life Insurance Companies.
2. Chief Executives of all Family Takaful & General Takaful Operators.
3. Chairman Insurance Association of Pakistan (IAP).
4. President (Institute of Chartered Accountants of Pakistan).
5. President (Pakistan Society of Actuaries)
6. President (Institute of Cost and Management Accountants of Pakistan).
7. Joint Secretary Investment (Ministry of Finance Islamabad)
8. Joint Secretary Insurance (Ministry of Commerce Islamabad)
9. Executive Director (IS & T) (SECP Islamabad)
10. Secretary to the Commission (SECP Islamabad)
SECURITIES & EXCHANGE
COMMISSION OF PAKISTAN
Insurance Division, State Life Building-2
4th Floor, Wallace Road, Karachi, Pakistan
Tel: +92-21-32461053, +92-21-32465469 Fax: +92-21-32423248 Web: www.secp.gov.pk
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Lineage: In force
Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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SECP published 3 documents in the last 30 days. We email you each new one the day it's published.