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Insurance Act 1966. 2020 REVISED EDITION. This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021.
Dec 31, 2021 · An Act for the regulation of insurance business and insurance intermediaries in Singapore, and for other purposes relating thereto or connected therewith. [1st January 1967] Singapore Statutes Online is provided by the Legislation Division of the Singapore Attorney-General's Chambers.
Dec 31, 2002 · An Act for the regulation of insurance business in Singapore, and for other purposes relating thereto or connected therewith. [1st January 1967] Singapore Statutes Online is provided by the Legislation Division of the Singapore Attorney-General's Chambers.
Jan 25, 2019 · Types of policies. 24.1.3 Insurance policies can cover a wide range of risks and can accordingly be classified in several ways – e.g. first party and third party insurance, life and non-life policies, as well as marine and non-marine insurance.
UK’s Insurance Act 2015 (c 4; ‘UK Act’) and the Consumer Insurance (Disclosure and Representations) Act 2012 (c 6) should be adopted, albeit in a single Insurance Contract Act in Singapore.
Regulatory and Supervisory Approach. MAS is the integrated regulator and supervisor of financial institutions in Singapore. MAS establishes rules for financial institutions which are implemented through legislation, regulations, directions and notices. Guidelines have also been formulated to encourage best practices among financial institutions.
Nov 10, 2022 · On 4 November 2022, the Monetary Authority of Singapore (“MAS”) issued a consultation paper seeking feedback on amendments to the Insurance Act 1966 (“IA”) and the Insurance (Intermediaries) Regulations (“IIR”). The consultation closes on 13 January 2023.
repealing section 62 of Singapore’s Insurance Act (IA) (which requires insurable interest in life-related polices), and amending section 57 of the IA to provide that an insured has an insurable interest in the life of another person if there is a reasonable prospect he or she will suffer economic loss if the insured event occurs;
insurance and reinsurance business is the Insurance Act 1966 (the “Insurance Act”). Generally, any person who writes insurance and/or reinsurance business must be licensed or authorised under the Insurance Act. Apart from the Insurance Act, there are other legislation regulating specific types of insurance such as marine
Insurance Act (Chapter 142) Transferring Agency: Parliament of Singapore (PARL) Record Series: Papers Presented to Parliament. Record Sub-Series: Statutory Paper. Record Reference Number: S.82 of 2000. Record Title: Insurance Act (Chapter 142) Record Date: 19/07/2000. Presented By: Ministry of Law. Conditions Governing Access:
