Call for Comments on the Insurance Bill, 2016
21 Feb 2017
Call For Comments on the Insurance Bill, 2016
The Joint Select Committee established for consideration of the Insurance Bill, 2016 is calling for comments on the Bill.
The purpose of the Bill is to provide a new regulatory framework for the insurance industry and to continue to provide for the regulation of privately administered pension fund plans and to repeal the existing Insurance Act, Chap. 84:01.
The Committee is inviting members of the public to submit comments on the Bill, which is available here
THE DEADLINE FOR SUBMISSIONS IS MONDAY MARCH 6, 2017 at 4:00 P.M.
Written submissions should be addressed to the Secretary to the Committee as stated below or can be forwarded via email to email@example.com.
Joint Select Committee on the Insurance Bill, 2016
Office of the Parliament of Trinidad and Tobago
Levels G-9, Tower D
International Waterfront Centre
1A Wrightson Road
The new Bill seeks to:
- reform the law relating to insurance companies.
- regulate insurance businesses.
- regulate privately administered pension funds.
- provide the Central Bank with effective regulatory authority over financial groups and a wide range of preventative and corrective measures.
- improve public disclosure with a view to promoting market discipline.
- bring the legislation to conformity with the Insurance Core Principles established by the International Association of Insurance Supervisors.