Notice DIPOP-N02 on Policy Owners' Protection Scheme Returns
Requirements on the submission of Policy Owners' Protection (PPF) Scheme returns by PPF Scheme members.
This notice applies to all direct insurers carrying on life or general insurance business and are PPF Scheme Members.
It sets out the reporting format on:
- Amount of protected liabilities, coupon deposits, advance premium payment and unclaimed monies for life business.
- Amount of gross premiums written and protected liabilities by specified lines for general business.
Informs licensed insurers on changes to Notice 133.
Sets out the requirements under the risk-based capital framework for all licensed insurers, including the way in which assets and liabilities are to be valued.
Informs all licensed insurers on consequential amendments arising from amendments to Insurance (Valuation and Capital) Regulations 2004
Sets out the commencement of DI-PPF (Amendment) Act 2018, maximum compensation caps for personal motor cover and personal property, and amendments to Notice DIPOP-N02 for members to consent to MAS sharing information with SDIC.
Sets out the requirements on asset maintenance, operational preparedness, maintenance of register and disclosure as well as the method for determination of premium contributions and compensation payment concerning the Deposit Insurance Scheme. The scheme protects depositors in case of a full bank or finance company...
Sets out the roles and responsibilities of appointed and certifying actuaries, and MAS' expectations on the appointment process and notification of engagements in equivalent roles in other jurisdictions.