Insurance Distribution Rules applicable as from 1st October 2018


    INSURANCE DISTRIBUTION RULES ISSUED UNDER THE INSURANCE DISTRIBUTION ACT (CAP. 487)

     

    Introduction

     

    Table of Contents

      

    PART A – Authorisation Requirements applicable under the Insurance Distribution Act

     

    Chapter 1: The Application Process of Insurance Agents, Insurance Managers and Insurance Brokers

     

     

    Chapter 2: The Application Process of Tied Insurance Intermediaries and Ancillary Insurance Intermediaries

     

    Chapter 3: Criteria of Fitness and Properness of Intermediaries 

     

    Chapter 4: Own Funds of Persons Enrolled in the Agents List, Managers List or Brokers List carrying out Insurance Distribution Activities and Reinsurance Distribution Activities

     

    PART B – Conditions for carrying out Insurance Distribution Activities and Reinsurance Distribution Activities

     

    Chapter 5: Criteria of Sound and Prudent Management

     

    Chapter 6: Knowledge and Ability

     

    Chapter 7: Continuous Professional Development

     

    Chapter 8: Monies held in a Fiduciary Capacity

     

    Chapter 9: Fidelity Bond

     

    Chapter 10: Information to be provided to the competent authority for Supervisory Purposes

     

    Chapter 11: Provisions applicable to specific insurance and reinsurance intermediaries

     

    Chapter 12: Issuing and Registration of Underwriting Agreements

    Chapter 13: Computer Link Arrangements

     

    Chapter 14: Persons qualified to make use of the word "Insurance"

     

    Chapter 15: Introducers