... with societal aspirations. PRotECtING PolICy HoldERS On 23 September 2019, the IA commenced the statutory regulatory regime for all insurance intermediaries, heralding a new era of unified licensing, continuous professional training and disciplinary mechanisms. Our main attention will henceforth be...

... • Circular issued on 11 Oct 2017 • Address information required without the need to obtain documentary evidence with immediate effectdocumentary evidence with immediate effect • Absence of verification of address regarded as justified under paragraph 1.7 of GL3 • Gazetted on 23 June 2017 • Introduced into...

... • Circular issued on 11 Oct 2017 • Address information required without the need to obtain documentary evidence with immediate effectdocumentary evidence with immediate effect • Absence of verification of address regarded as justified under paragraph 1.7 of GL3 • Gazetted on 23 June 2017 • Introduced into...

... • Circular issued on 11 Oct 2017 • Address information required without the need to obtain documentary evidence with immediate effectdocumentary evidence with immediate effect • Absence of verification of address regarded as justified under paragraph 1.7 of GL3 • Gazetted on 23 June 2017 • Introduced into...

... to submit an application through the IA's Insurtech Sandbox and must obtain the approval of the IA before officially launching the service on a pilot basis to protect the interests of policyholders. The relevant application must comply with the following requirements of the IA...

... activities related to the proliferation of weapons of mass destruction (“WMD”) and its financing. The FATF calls on its members and urges other jurisdictions to apply effective counter-measures and targeted financial sanctions in accordance with applicable United Nations Security Council Resolutions to...

... the minimum indemnity limit under professional indemnity insurance (PII) policy. Having carefully considered the feedback received, the IA decides to adopt most of the proposals with suitable modifications. To ease the financial impact on the small-sized insurance broker companies, the IA will extend...

... transparent manner, is particularly relevant in this respect, as it is from this that the principles and standards on claims handling in the IA’s Guidelines are drawn: 1) An authorized insurer should establish documented claims handling procedures with indicative time periods for handling...

... received a letter purportedly issued by the Australian university’s graduation office verifying that the former agent had been enrolled with the university. The letter, however, was undated, unsigned and bore an incomplete telephone number. The insurer carried out further due diligence on the letter...

..., and you could not have chosen a more pertinent theme than one that focuses on “dealing with the transition”. When I spoke on the first occasion, the Insurance Authority (“IA”) was a start- up, a piece of work-in-progress. The past year has been bitter-sweet for me and my team as we cope hectically...