Digital Insurer Regulation

Licensing and Regulating Digital Insurers

Part A - General Provisions

Article 1 - Short Title & Commencement

The instructions set forth herein are titled the "Digital Insurer Regulation" for 2024 and shall enter into force as of 23/04/2024

The issuance of this regulation hereby repeals and replaces the previously issued regulations indicated below, and shall be considered the governing regulation for all relevant matters from the date of its enactment:

S.No.	Regulation Name	Issued Date
1	Section 11.11 of Executive Insurance Instructions	April 2016

Article 2 - Definitions

For the purpose of this regulation, the following terms are defined as follows, unless the context otherwise suggests:

S. No.	Term	Explanation
1	Beneficiary	A Person who is entitled to receive an amount of money, salary or another financial compensation in case the accident or risk contemplated in the policy occurs.
2	Customer	A Person that deals with the Digital Insurer, for the purposes of obtaining services from the Digital Insurer.
3	Digital Insurer