We wish to remind all General Insurance Agents to comply strictly with Section 13(vi) of the GIARR;-
"An Agent shall not be an employee or a director or a shareholder of or a debenture holder in or have any interest in any company, firm or business enterprise which is formed for the purpose of transacting or is in fact engaged in transacting:-
(a) general insurance business;
(b) insurance broking business; or
(c) loss adjusting business
- without the prior written approval of the Board
The Board shall have the sole discretion to withdraw or revoke such approval on written notice to the Agent.”
All general insurance agents are to ensure that all their declarations of interests are current and accurate at the point of registration, subsequently at each renewal of the registration, and whenever there are changes affecting such declarations. They must be fully aware of all their responsibilities under the regulations set out in the GIARR and comply with these regulations.
From Secretariat, Agency Registration Board GIA
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