... first introduced in 1996. Under which, policy holders have the right to cancel new policies within the cooling-off period and request for a refund of the premium(s) paid. With effect from 1 February 2010, the cooling-off period is 21 days after the delivery of the policy or issue of a notice (informing...

... any guideline that was current at the time of the conduct in question; (ii) the IA’s action or decision in previous similar cases; (iii) financial jeopardy – generally, a pecuniary penalty should not have the likely effect of putting the authorized insurer concerned in financial jeopardy so that the...

... Scheme products which are eligible for tax deduction in the 2019–20 assessment year. With immediate effect, insurers and intermediaries may dispense with the need to conduct a Financial Needs Analysis in the selling process of these products, provided that they have duly performed upfront...

... must be complied with as appropriate. Insurers currently operating VO Sandbox approved by the IA need not submit new applications to effect this extension. In addition, all in-scope TFM products can now be sold via VO Sandbox without recording, provided that upfront disclosure at the...

... spurs new service ideas and products and creates alternative distribution channels to reach out to underserved customers and those among the public still unserved. This can narrow the protection gap, while broadening financial inclusiveness,” he said. A series of panel discussions were...

... spurs new service ideas and products and creates alternative distribution channels to reach out to underserved customers and those among the public still unserved. This can narrow the protection gap, while broadening financial inclusiveness,” he said. A series of panel discussions were...

... subject, we may classify risk under two broad headings (each having two categories) according to: (a) its potential financial results; and (b) its cause and effect. 1.1.2a Financial Results Risks may be considered as being either Pure or Speculative: (i) Pure Risks offer the potential of loss only (no...

... cause is covered, except where the cause is excluded from cover). 1.1.2 Classification of Risk To simplify a complex subject, we may classify risk under two broad headings (each having two categories) according to: (a) its potential financial results; and (b) its cause and effect. 1/2 1.1.2a Financial...

... Council will be issuing another Guidance Note specifying in detail their requirements for long term life insurance products. Implementation 5. This Guidance Note has been reviewed by the Insurance Authority. It will take effect from 9 May 2011. 9 May 2011 - 2 - ...

... They being decided cases of the Insurance Claims Complaints Bureau (ICCB), which has been renamed the Insurance Complaints Bureau (ICB) with effect from 16 January 2018, it is worth noting that the Insurance Claims Complaints Panel of the then ICCB/ICB was/is empowered by its Articles of Association to...