Back Custom print Link Text Only Rich Text Print

  • HC-B.1 HC-B.1 Insurance Licensees[versions up to January 2011]

    • HC-B.1.1 [versions up to January 2011]

      The contents of this Module — unless otherwise stated — apply to all Bahraini insurance licensees, except those operating as a Bahraini single person company or unincorporated entity.

    • HC-B.1.2 [versions up to January 2011]

      Overseas insurance licensees must satisfy the CBB that equivalent arrangements are in place at the parent entity level, and that these arrangements provide for effective high-level controls over activities conducted under the Bahrain license. Overseas insurance licensees must also comply with the specific requirement contained in Paragraph HC-3.1.3 and HC-3.4.3.

      Amended: January 2007

    • HC-B.1.3 [versions up to January 2011]

      In assessing compliance with Paragraph HC-B.1.2, the CBB will take into account regulatory requirements applicable to the parent entity, as well as the governance and systems and controls arrangements actually implemented by the parent entity and applied to the Bahrain operation. With the exception of specific requirements that explicitly apply to overseas insurance licensees (i.e. Paragraphs HC-B.1.2 and HC-3.1.3), overseas insurance licensees should consider the remaining contents of this Chapter as guidance, in judging whether high-level controls applied to the branch satisfy HC-B.1.2.

      Amended: January 2007