Regulation 6 - An IIO and prospect or insured, as the case may be, may mutually agree for payment of premium in instalments...
International Financial Services Centres Authority (Manner of Payment and Receipt of Premium) Regulations, 2022 Chapter II MANNER OF PAYMENT, RECEIPT OF PREMIUM AND ASSUMPTION OF RISK
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Premium instalment arrangements may be contractually agreed through a premium payment warranty clause governing payment schedule and manner. Premium payment arrangements may be mutually agreed between an IIO and a prospect or insured for an insurance contract. Payment may be structured in ... Summary
Premium instalment arrangements may be contractually agreed through a premium payment warranty clause governing payment schedule and manner.
Premium payment arrangements may be mutually agreed between an IIO and a prospect or insured for an insurance contract. Payment may be structured in instalments, with the parties determining the time schedule and manner applicable to each instalment. The agreement is incorporated through a premium payment warranty clause forming part of the contract of insurance.
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