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Higher insurance rates not fault of new insurance act


Central Bank in Port-of-Spain.
Strengthening of the regulatory framework to assure greater policyholder protection,modernisation the legislation to effectively supervise the insurance industry and facilitation of the Central Bank in its promotion of efficient, fair and transparent insurance markets and financial stability of the sector are among the key objectives of the New Insurance Act which were detailed in a webinar hosted by the Central Bank yesterday.
Manager of Insurance at the Central Bank Natalie Roopchandsingh said that administrative fines can be issued for specified offences under the new act.
“There are about 88 offences for which administrative fines can be issued. There were no administrative fines in the old act and prescribed fines were based on summary convictions. ....

Port Of Spain , Trinidad And Tobago , Central Bank Natalie Roopchandsingh , Central Bank , New Insurance Act , Financial Institutions Patrick Solomon , Insurance Act , Patrick Solomon , Financial Institutions , போர்த் ஆஃப் ஸ்பெயின் , டிரினிடாட் மற்றும் டொபாகோ , மைய வங்கி , புதியது காப்பீடு நாடகம் , நிதி நிறுவனங்கள் பேட்ரிக் சாலமன் , காப்பீடு நாடகம் , பேட்ரிக் சாலமன் , நிதி நிறுவனங்கள் ,