Short-Term Insurance Act, 1998 (Act No. 53 of 1998)

Policyholder Protection Rules

Policyholder Protection Rules (Short-Term Insurance), 2017

Chapter 3 : Products

Rule 2A : Microinsurance Product Standards

2A.1 Definitions

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In this rule—

 

"accident"

has the meaning assigned to it in section 1 of the Insurance Act;

 

"microinsurance policy"

means a non-life insurance policy entered into by a microinsurer;

 

"microinsurer"

has the meaning assigned to it in section 1 of the Insurance Act;

 

"non-life insurance policy"

has the meaning assigned to it in section 1 of the Insurance Act;

 

"underwritten on a group basis"

has the meaning assigned to it in Schedule 2 of the Insurance Act.

 

[Rule 2A.1 inserted by rule 6(b) of Notice No. 996, GG 41928, dated 28 September 2018]