Transcription of Insurance Act 1978 - Bermuda Laws
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Insurance Act 1978 - Bermuda Laws
FAERNATFTQUOUBERMUDAINSURANCE ACT 19781978 : 39 TABLE OF CONTENTSPART IInterpretationMeaning of director , controller , chief executive , officer , senior executive , associate Meaning of parent and subsidiary companyPART IATHE AUTHORITYF unctions and duties of the AuthorityFunctions of the AuthorityAuthority s statement of principlesGuidanceCodes of ConductInsurance Advisory CommitteePART IIREGISTRATIONI nsurers to be registeredRegistration as insurerDetermination of class of registration for general businessClass 1 insurerClass 2 insurerClass 3 insurerClass 3A insurerClass 3B insurerClass 4 insurerDetermination of class of registration for long-term
Authority may exempt insurers, insurance managers and intermediaries from or modify prudential or technical standards Authority may adjust enhanced capital requirement, statutory capital and ... total statutory economic capital and surplus including any adjustments thereto made under section 6D or by or under Rules made under section 6A of
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