Regulation 1—Paid-Up Capital and Statutory Deposits of Insurers, Brokers and Adjusters. The requisite paid-up capital and statutory deposits of insu ...
Regulation 9: Professional Indemnity for Brokers, Adjusters. Every broker or adjuster shall be covered by a professional indemnity protection or coverage of at ...
Regulation 10 Form of Application as Insurer or Re-Insurer. Application for registration as an insurer or re-insurer under the Law shall be made as in Form NIC/ ...
Regulation 19 Fees. (1) The Fees specified in column 2 of Part III of the Schedule to these Regulations shall apply with respect to the corresponding matters se ...
Regulation 2 Principal Officers or Chief Executives. (1) Every insurer, re-insurer, broker or adjuster shall have at least two full-time chief executives or pri ...
Regulation 3 Qualifications of Directors and Principal Officers of Insurers, Re-Insurers, Brokers, Adjusters, Etc. No person shall be a director or princi ...
Regulation 4: Technical Heads .Every technical department or division or any branch office or contact office of an insurer, re-insurer, broker or adjuster shall ...
Regulation 5: Qualification of Chief Finance Officers or Accountants for Insurers and Re-Insurers. (1) Every insurer or re-insurer shall have at least one full- ...
Regulation 6 Further Qualification of Chief Agent and Agent.(1) No person shall be registered as a chief agent or agent or unless he;
(a) is the holder of the ...
Regulation 7: Principal of Chief Agents and Agents. (1) A chief agent or an agent shall not have more than one principal insurer at a time, and shall give busin ...
Regulation 11: Certificate of Registration and Renewal as Insurer or Re-Insurer. (1) Upon the registration of an insurer or re-insurer under the Law, the Commis ...
Regulation 12 Certificates of Solvency to the Commission. The certificate of solvency to be furnished by life insurers and non-life insurers for purposes of sec ...
Regulation 13; Form of Application as a Broker or Adjuster and Certificate of Registration, Etc. (1) Application for registration as a broker or adjuster shall ...
Regulation 14 Application Form for Chief Agents, Etc.(1) Form NIC/07/90 is hereby prescribed as the form of application for registration of chief agents and age ...
Regulation 16: Auditor's Report and Certificate of Solvency of Insurer. The form of report and certificate to be furnished by a registered auditor for an insure ...
Regulation 20: Insurance of Motor Vehicles. An insurer who is registered to carry on non-life insurance business shall undertake motor insurance and shall not r ...
Regulation 21 Insurers to Ensure Fair and Prompt Settlement of Motor Claims. (1) No motor insurer shall refuse, without just cause, to pay or settle claims aris ...
Regulation 27: Utilisation of Local Capacity before Re-insurance Abroad. An insurer or re-insurer shall utilise all available local capacity in motor, life, per ...
Regulation 28: Insurance Advertisements and Sales Promotion Practices. Any insurer or insurance intermediary or person who by any statement, promise, or forecas ...
Regulation 32: Professional Conduct and Business Code of Discipline. (1) Every insurer or intermediary shall be a member of the relevant trade or business or pr ...
Regulation 33 Satisfactory and Decent Offices. Every insurer, re-insurer, adjuster, chief agent, insurance association or institute shall maintain at all times ...
Regulation 34; Form to be Printed. Every form or other document required to be furnished pursuant to the Law or these Regulations shall be printed or typed. ...
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