Mauritius: Draft Linked Long Term Insurance Business Rules 2012

Linked Long Term Insurance Business

Objective: To provide Rules for linked long term insurance products (LLTIP).

Gist of Legislation: These Rules will help to maintain sound insurance principles when it comes to LLTIP

Safeguard: To protect interest of those individuals investing in LLTIP

Main Features:

1. defined rules for valuation of assets.
2. defined rules for disclosure relating to -
3. product summary and policy.
4. statement and reports to policyholders.
5. advertisements and publications.
6. defined rules for transaction with related parties.
7. defined rules for frequency of valuation.
8. defined rules for rounding differences.
9. defined rules for valuation errors and compensation. 

Consultation Paper for draft Linked Long Term Insurance Business Rules 2012