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Post 12: July 15, 2021


Consumer Trust Accounts; Payment of Premiums to Insurers; Payment to Consumers; Monthly Accounts; Monthly Records of Agencies; and Audit of Accounts of Agencies and Brokerages

Submitted by forumuser_DMJ on Thu, 07/15/2021 - 11:35 am

Industry Questions/Comments

[Sections 133 - 135 and 137 - 139 of the Insurance Act 2018]

Some guidance should be provided for insurers and intermediaries on the expectations around these requirements so that all stakeholders are on the same page.

 

Continuous Professional Development

Submitted by forumuser_DMJ on Thu, 07/15/2021 - 11:22 am

Industry Questions/Comments

[Section 199 of the Insurance Act 2018]

What is the update here, particularly with respect to the appointment of approved educational institutions and the overall framework for treating with continuous professional requirements for intermediaries?  The regulations circulated for consultation still left several unanswered questions, which would have been articulated by the industry.

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