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CA-4.2.25

Past version: Effective from 01 Oct 2007 to 31 Mar 2014
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Amounts due under contracts of insurance and reinsurance (either ceded or accepted), including salvage and subrogation rights, must be valued at the amounts that can reasonably be expected to be recovered. The exceptions being:

(a) All debts which have been due for more than 6 months, in which case they must be valued at nil;
(b) Advance commission paid to intermediaries which must be valued at nil; and
(c) Amounts that pertain to a subsidiary or associate of the insurance firm must be valued in accordance with Paragraph CA-4.2.4 above.
Amended: January 2007
Amended: October 2007