Entire section Custom print Link Text Only Rich Text Print

BR-2.2.9

For the purposes of this Chapter, in determining whether a matter is significant, an insurance licensee should have regard to:

(a) The size of any monetary loss or potential monetary loss to itself or its customers (either in terms of a single incident or group of similar or related incidents);
(b) The risk of reputational loss to the insurance licensee; and
(c) Whether the incident or a pattern of incidents reflects weaknesses in the insurance licensee's internal controls.
Amended: January 2007
Amended: October 2007