Recruitment and Appointment
TC-2.1.1
If an
insurance licensee recruits or promotes an individual to undertake acontrolled function , it must satisfy itself, where appropriate, of such individual’s relevant qualifications and experience.Added: October 2020TC-2.1.2
For purposes of Paragraph TC-2.1.1
insurance licensees must file Form 3 (Approved Persons) with the CBB and obtain the express written approval of the CBB for that person to occupy the desired position. In its application, theinsurance licensee must demonstrate to the CBB that full consideration has been given to the qualifications and core competencies forcontrolled functions in Appendix TC-1 (See Article 65(b) of the CBB Law).Added: October 2020TC-2.1.3
Insurance licensees should refer to Module AU (Authorisation) providing detailed requirements on the appointment of individuals occupyingcontrolled functions (approved persons ).Added: October 2020TC-2.1.4
An
insurance licensee proposing to recruit or appoint an individual has to satisfy itself, of his/her relevant qualifications and experience. Theinsurance licensee should:(a) Take into account the knowledge and skills required for the role, in addition to the nature and the level of complexity of thecontrolled function ; and(b) Take reasonable steps to obtain sufficient information about the individual’s background, experience, training and qualification.Added: October 2020
