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Long Term Insurance Act, 1998 (Act No. 52 of 1998)

Regulations

Regulations under the Long-term Insurance Act, 1998

Part 3 : Remuneration

Part 3D : Notification of Certain Arrangements with Independent Intermediaries or Representatives

3.24 Notification of certain arrangements with independent intermediaries or representatives

 

An insurer must at least 30 days before entering Into an arrangement to pay remuneration to an independent intermediary or representative for a service, function or activity which in the opinion of the insurer does not constitute rendering services as intermediary or a binder function notify the Authority in writing and in the format determined by the Authority of the arrangement to be entered into.

 

[Part 3.24 inserted by regulation 4(cc) of Notice No. 1437 of 2017]

 

 


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