Definitions
2.  In these Regulations —
“advisory service” means any risk advisory service, or other advisory service relating to any insurance policy;
“direct insurer” has the same meaning as in section 2 of the Insurance Act 1966;
[S 941/2022 wef 31/12/2021]
“direct life insurer” means a direct insurer licensed under section 11 of the Insurance Act 1966 to carry on life business;
[S 941/2022 wef 31/12/2021]
“insurance broking services” means the services of direct insurance broking or reinsurance broking, or both;
“life business” has the same meaning as in section 3(1)(a) of the Insurance Act 1966;
[S 941/2022 wef 31/12/2021]
“risk advisory services” means the design, structuring, modelling and implementation of any risk management programme using an insurance policy.