We wish to remind all Corporate Agencies to comply strictly with the regulations in respect of Section 4(5)(4) of the GIARR;-
“Ensure that the Corporate Agency shall not allow persons who are not duly registered with the Board as their Agents’ Nominee Agents to solicit and/or obtain general insurance business or engage in general insurance selling or advisory activities as nominees for the Agency.”
We stress that all Corporate Agencies are prohibited from allowing;-
i) unqualified persons to sell and give advice on insurance matters whether on the phone, fax or in person;
ii) unqualified persons to sign any cover notes, proposal forms or fact-find forms;-
iii) the free use of electronic signature of corporate nominee by staff.
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