TAI FSC Insurance Premium Collection

On Jul. 12, TAI FSC prohibited the collection of premiums in cash.

  • TAI FSC, TAI Justice amended paragraph 3 of Directions for collecting premiums authorized by insurance enterprises re authorization of persons to collect premiums.
  • The amendment specifies that the personal insurance industry shall not permit a person with authority to collect insurance premiums, to collect cash payments.
  • Effectiveness
  • The amended directions will be effective from Jan. 1, 2025.

Regulators TAI FSC; TAI Justice
Entity Types IB; Ins
Reference RF FSC No. 11304922671, 7/12/2024
Functions Compliance; Financial; Operations; Product Administration; Risk
Countries Taiwan
Category
State
Products Insurance; Insurance-Casualty; Insurance-Health; Insurance-Life; Insurance-Property
Regions AP
Rule Type Final
Rule Date 7/12/2024
Effective Date 1/1/2025
Rule Id 219241
Linked to N/A
Reg. Last Update 7/12/2024
Report Section International

Last substantive update on 07/16/2024