Regulation 4 - The premium to be paid by a person proposing to take an insurance policy...
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 payment methods permit banking instruments, guarantees, cash deposits, and Authority-specified alternatives for insurance policies. Premium payment to an IIO may be made by a proposer or policyholder through recognised banking-channel instruments, including electronic payment; a bank ... Summary
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International Financial Services Centres Authority (Manner of Payment and Receipt of Premium) Regulations, 2022
Premium payment methods permit banking instruments, guarantees, cash deposits, and Authority-specified alternatives for insurance policies.
Premium payment to an IIO may be made by a proposer or policyholder through recognised banking-channel instruments, including electronic payment; a bank guarantee or equivalent bank-issued instrument in favour of the IIO where the insured defaults; cash deposit; or any other payment method specified by the Authority.
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