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Insurance
Insurance Companies
*Asia-Pacific
Risk And Insurance Association
9 Temasek Boulevard
#14-01/02/03 Suntec Twr 2 Singapore 038989
*Insurance Field
Managers' Association
1 North Bridge
Road #09-05 High Street Centre Singapore 179094
*Life Underwriters
Association of Singapore (L.U.A. of Singapore)
7 Hong Kong
Street LUA Building Singapore 059650
NEWS SNIPPETS
GG Not. No.3719 dated 22 Dec
2000
| INSURANCE ACT (CHAPTER
142) |
| Pursuant to section 13(1)
(a) of the Insurance Act, it is hereby notified for general
information that the Monetary Authority of Singapore has cancelled
the registration of AXA Insurance Plc (formerly known as Guardian
Royal Exchange Assurance Public Limited Company) with immediate
effect. |
|
[ID 807/1/6]
|
From 1 Jan 2001, all
insurance agents in Singapore will have to conduct a
"fact-finding" exercise before selling policies to their
clients. This involves finding out about their client's financial
position, risk tolerance and investment objectives. And even though
clients are allowed to "opt out" of the exercise, industry
players say steps are being taken to ensure this is kept to a minimum. |