Section 2 in International Financial Services Centres Authority (Insurance Products and Pricing) Regulations, 2022
2. Objectives —
(1)To provide framework for designing and pricing of insurance products by the International Financial Service Centre Insurance Offices (ITOs).(2)To ensure that the IOs have put in place effective internal systems and control to-(a)provide adequate capacity to identify and mitigate product related risks and issues from the time of design of the product and throughout the life cycle of the product, including providing appropriate distribution strategies taking into account the target market characteristics; and(b)protect the interests of policyholders while designing and pricing of insurance products.
