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 firstname.lastname@example.org.
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.