Notices
Notice 120 Disclosure and Advisory Process Requirements For Accident and Health Insurance Products
Requirements and best practices for insurers, insurance brokers, financial advisers and their representatives or broking staff on the disclosure and advisory process for accident and health insurance products.
Issued pursuant to:
Insurance Act (Cap. 142) section 35P , section 35TA and section 64(2)
This notice applies to the following entities who provide advice or arranges contracts of accident and health insurance:
- Direct insurers and persons who act as an insurance agent for the insurers.
- Registered direct insurance brokers and their broking staff.
- Exempt direct insurance brokers and their broking staff.
- Licensed financial advisers and their representatives.
- Exempt financial advisers and their representatives.
It sets out mandatory requirements and best practice standards on the disclosure of information and provision of advice for accident and health policies, and life policies with accident and health benefits.
Amendment Notes
- 30 Oct 2015
- Notice 120 (Amendment) 2015 (334.1 KB)takes effect on 1 Nov 2015.
- 30 Jan 2004
- Notice 120 (33.7 KB)dated 30 Jan 2004 [Cancelled with effect from 1 Nov 2015]
Related to this Notice
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NoticesLast Revised Date: 30 September 2024
Notice 502 Minimum Standards and Continuing Professional Development for Insurance Brokers and their Broking Staff
Requirements and best practice standards on continuing professional development for insurance brokers and their broking staff.
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NoticesLast Revised Date: 27 December 2018
Notice 502 Minimum Standards and Continuing Professional Development for Insurance Brokers and their Broking Staff
Requirements and best practice standards on continuing professional development for insurance brokers and their broking staff.
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NoticesLast Revised Date: 28 December 2015
Notice 117 Training and Competency Requirement: Health Insurance
Requirements for insurers, insurance brokers, financial advisers and their representatives or broking staff on training and competency in relation to health insurance products.
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ConsultationsPublished Date: 12 May 2015
Consultation Paper on Review of Accident & Health Regulatory Framework
- Consultation number:
- P008-2015
- Start date:
- 12 May 2015
- Closing date:
- 12 June 2015
- MAS response date:
- 30 October 2015
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GuidelinesLast Revised Date: 03 January 2008
ID 1/03 Market Conduct Standards and Service Standards for Direct General Insurers
Guidelines on market conduct and service standards for direct general insurers as product providers of insurance policies.