Insurance Distribution Rules applicable as from 1st October 2018


    INSURANCE DISTRIBUTION RULES ISSUED UNDER THE INSURANCE DISTRIBUTION ACT (CAP. 487)

     

    Exercise of options under the Insurance Distribution Directive

     

    Introduction

     

    Table of Contents

      

    PART A – Authorisation Requirements applicable under the Insurance Distribution Act

     

    Chapter 1: The Application Process of Insurance Agents, Insurance Managers and Insurance Brokers

     

     

    Chapter 2: The Application Process of Tied Insurance Intermediaries and Ancillary Insurance Intermediaries

     

    Chapter 3: Criteria of Fitness and Properness of Intermediaries 

     

    Chapter 4: Own Funds of Persons Enrolled in the Agents List, Managers List or Brokers List carrying out Insurance Distribution Activities and Reinsurance Distribution Activities

     

    PART B – Conditions for carrying out Insurance Distribution Activities and Reinsurance Distribution Activities

     

    Chapter 5: Criteria of Sound and Prudent Management

     

    Chapter 6: Knowledge and Ability

     

    Chapter 7: Continuous Professional Development

     

    Chapter 8: Monies held in a Fiduciary Capacity

     

    Chapter 9: Fidelity Bond

     

    Chapter 10: Information to be provided to the competent authority for Supervisory Purposes

     

    Chapter 11: Provisions applicable to specific insurance and reinsurance intermediaries

     

    Chapter 12: Issuing and Registration of Underwriting Agreements

    Chapter 13: Computer Link Arrangements

     

    Chapter 14: Persons qualified to make use of the word "Insurance"

     

    Chapter 15: Introducers

     

    Chapter 16: Freedom of Establishment and Freedom to provide Services by a European Intermediary