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Industry Questions/Comments
[Section 140 of the Insurance Act 2018]
Section 140 speaks a foreign adjuster being used during catastrophe and complex claims or major losses with subsection 4 indicating that criteria for complex claim and major loss are set out in Guidelines issued by the Central Bank, however the revised Claim Guideline does not contain any reference to either term. Is it that a separate guideline will be issued to address the issue of foreign adjusters and that this Guideline will set out the criteria?
Central Bank of Trinidad and Tobago
The matter is currently being addressed with the Association of Claims and Loss Adjusters. A separate circular letter will be issued to address the matter.
