Insurance Act, 2006 (Act 724)

Section 57: (1) Where the Commission is satisfied that the actuary of a long term insurer has failed to fulfill obligations under this Act it may, revoke the approval of the appointment of the actuary by written notice to the long term insurer and the insurer shall appoint a new actuary ..(2) A notice revoking the appointment of an actuary under subsection (1) shall be sent to the actuary.(3) Where a long term insurer fails to appoint an actuary, the Commission may appoint a qualified person to act as the actuary of the long term insurer.(4) An actuary appointed under subsection (3) is considered for the purposes of this Act to have been appointed by the long term insurer.

Procedures to Follow

Not Avaiable

Responsible Institution

National Insurance Commission


Relevant Forms to Download

Not Available

Fees / Charges

Not Avaiable