Regulation 1—Paid-Up Capital and Statutory Deposits of Insurers, Brokers and Adjusters. The requisite paid-up capital and statutory deposits of insurance ...

Regulation 9: Professional Indemnity for Brokers, Adjusters. Every broker or adjuster shall be covered by a professional indemnity protection or coverage of at ...

Regulation 10 Form of Application as Insurer or Re-Insurer. Application for registration as an insurer or re-insurer under the Law shall be made as in Form NIC/ ...

Regulation 19 Fees. (1) The Fees specified in column 2 of Part III of the Schedule to these Regulations shall apply with respect to the corresponding matters se ...

Regulation 2 Principal Officers or Chief Executives. (1) Every insurer, re-insurer, broker or adjuster shall have at least two full-time chief executives or pri ...

Regulation 3 Qualifications of Directors and Principal Officers of Insurers, Re-Insurers, Brokers, Adjusters, Etc.  No person shall be a director or princi ...

Regulation 4: Technical Heads .Every technical department or division or any branch office or contact office of an insurer, re-insurer, broker or adjuster shall ...

Regulation 5: Qualification of Chief Finance Officers or Accountants for Insurers and Re-Insurers. (1) Every insurer or re-insurer shall have at least one full- ...

Regulation 6 Further Qualification of Chief Agent and Agent.(1) No person shall be registered as a chief agent or agent or unless he; (a) is the holder of the ...

Regulation 7: Principal of Chief Agents and Agents. (1) A chief agent or an agent shall not have more than one principal insurer at a time, and shall give busin ...

Regulation 11: Certificate of Registration and Renewal as Insurer or Re-Insurer. (1) Upon the registration of an insurer or re-insurer under the Law, the Commis ...

Regulation 12 Certificates of Solvency to the Commission. The certificate of solvency to be furnished by life insurers and non-life insurers for purposes of sec ...

Regulation 13; Form of Application as a Broker or Adjuster and Certificate of Registration, Etc. (1) Application for registration as a broker or adjuster shall ...

Regulation 14 Application Form for Chief Agents, Etc.(1) Form NIC/07/90 is hereby prescribed as the form of application for registration of chief agents and age ...

Regulation 16: Auditor's Report and Certificate of Solvency of Insurer. The form of report and certificate to be furnished by a registered auditor for an insure ...

Regulation 20: Insurance of Motor Vehicles. An insurer who is registered to carry on non-life insurance business shall undertake motor insurance and shall not r ...

Regulation 21 Insurers to Ensure Fair and Prompt Settlement of Motor Claims. (1) No motor insurer shall refuse, without just cause, to pay or settle claims aris ...

Regulation 27: Utilisation of Local Capacity before Re-insurance Abroad. An insurer or re-insurer shall utilise all available local capacity in motor, life, per ...

Regulation 28: Insurance Advertisements and Sales Promotion Practices. Any insurer or insurance intermediary or person who by any statement, promise, or forecas ...

Regulation 32: Professional Conduct and Business Code of Discipline. (1) Every insurer or intermediary shall be a member of the relevant trade or business or pr ...

Regulation 33 Satisfactory and Decent Offices. Every insurer, re-insurer, adjuster, chief agent, insurance association or institute shall maintain at all times ...

Regulation 34; Form to be Printed. Every form or other document required to be furnished pursuant to the Law or these Regulations shall be printed or typed. ...

PART III FEES (Regulation 19) ...