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CL-2.2.1

Except as otherwise indicated, in order to ensure adequate protection of client money, insurance brokers must follow one of two approaches or a mix of both for holding client money:

(a) Transfer the risk from the insurance broker to the insurance firm(s); or
(b) Segregate client money into client money accounts that cannot be used to reimburse other creditors if an insurance broker fails.
Amended: July 2023
April 2012