Repeal of Determination 7 of 30.10.2002 under Insurance Industry Act, No. 43 of 2000 (dated 27/09/2023) – Insurance Regulatory Commission of Sri Lanka
View Pdf– Repeal of Determination 7 of 30.10.2002 under Insurance Industry Act, No. 43 of 2000 (dated 27/09/2023) – Insurance Regulatory Commission of Sri Lanka.
- The Determination 7 of 30.10.2002 is repealed and replaced by Determination No. 9 of 27.09.2023. An applicant desiring to be registered as an insurance broker shall submit to IRCSL a certified copy of the professional indemnity insurance policies for a total value of Rs.3 million. And an applicant desiring to be registered as an insurance broker and carry out re-insurance brokering business, shall submit to IRSCL a certified copy of the professional indemnity insurance policies for a total value of Rs.6 million from two or more registered insurers. This determination shall be effective immediately. Please refer attachment for more details.
