Insurance Act

This Act sets up a legal framework for prudential regulation and supervision of insurance business in South Africa and for microinsurance. This excerpt appears to be a heading section for word definitions and general interpretation, but it does not include the actual definitional text. This section heading relates to claims against branches of foreign reinsurers or Lloyd’s underwriters, and to insurance groups and insurer notification when becoming part of a group of companies. Section heading listing designation of an insurance group, licensing of a controlling company, board responsibility, transparent insurance group structure, and chapter headings on key persons and significant owners. This section concerns approval of the appointment of certain key persons.