... effectively. In this regard, at least one-third1 of the directors should possess such knowledge and experience. In addition, in view of the wide spectrum of professional knowledge required in administering the business and affairs of an authorized insurer, it is advisable for the Board to have an adequate...

... commercial side, this enables businesses to survive major fires, liabilities, etc. From a personal point of view, the money is of great help in times of tragedy (life insurance) or other times of need. (b) Ancillary functions/benefits: Insurance contributes to society directly or indirectly in many different...

... primary benefit is seen in the financial compensation made available to insured victims of the various insured events. On the commercial side, this enables businesses to survive major fires, liabilities, etc. From a personal point of view, the money is of great help in times of tragedy (life insurance) or...

... their respective roles and responsibilities and collaborative arrangements with respect to the regulation and supervision of AIs that carry on a regulated activity in the course of their business. 3. This MoU replaces and supersedes the MoU signed on 19 September 2003 between the Parties in view of the...

... their respective roles and responsibilities and collaborative arrangements with respect to the regulation and supervision of AIs that carry on a regulated activity in the course of their business. 3. This MoU replaces and supersedes the MoU signed on 19 September 2003 between the Parties in view of the...

... intermediary liable to judicial or other proceedings. A non- 3 compliance may, however, for example, reflect on the IA’s view of the continued fitness and properness of (i) the directors, controllers and key persons in relevant control functions of the authorized insurers to which this Guideline applies and...

... their respective roles and responsibilities and collaborative arrangements with respect to the regulation and supervision of AIs that carry on a regulated activity in the course of their business. 3. This MoU replaces and supersedes the MoU signed on 19 September 2003 between the Parties in view of the...

... intermediary liable to judicial or other proceedings. A non- 3 compliance may, however, for example, reflect on the IA’s view of the continued fitness and properness of (i) the directors, controllers and key persons in relevant control functions of the authorized insurers to which this Guideline applies and...

... their respective roles and responsibilities and collaborative arrangements with respect to the regulation and supervision of AIs that carry on a regulated activity in the course of their business. 3. This MoU replaces and supersedes the MoU signed on 19 September 2003 between the Parties in view of the...

... intermediary liable to judicial or other proceedings. A non- 3 compliance may, however, for example, reflect on the IA’s view of the continued fitness and properness of (i) the directors, controllers and key persons in relevant control functions of the authorized insurers to which this Guideline applies and...