Australian Capital Territory Current Acts

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Regulations about insurer licences

A regulation may prescribe the following in relation to insurer licences:

        (a)     how an insurer may apply for an insurer licence;

        (b)     the criteria for issuing an insurer licence;

        (c)     the conditions that may be imposed on an insurer licence;

        (d)     the records to be kept by licensed insurers, to whom the records must be provided and the way to provide the records;

        (e)     how insurance premium calculations by licensed insurers may be reviewed;

        (f)     how licensed insurers' performance may be monitored and reviewed;

        (g)     what and when licensed insurers must report to the regulator;

        (h)     how and why an insurer licence may be suspended or cancelled.

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