Insurance Legislation
NOTE: Several of the Acts outlined in this site are available for download in PDF format from the Bahamas Compliance Commission. To visit their website click here. The link will be open a new browser window. To return to the BFSB site, simply close the new window.
AN ACT TO PROVIDE FOR THE REGISTRATION AND CONTROL OF THE BUSINESS
OF EXTERNAL INSURERS AND UNDERWRITING MANAGERS OF EXTERNAL INSURERS
AND TO PROVIDE FOR MATTERS RELATING THERETO
The External Insurance Act - Commencement: 30th December, 1983
Part I - Preliminary
Section 1 Short Title
Section 2 Interpretation
Section 3 Application of Parts
Section 4 Exemption of Registered External Insurer from
Insurance Act
Part II - Registration and Control of Underwriting Managers
Section 5 Requirement for Registration of External Insurers
Section 6 Application for Registration as External Insurer
Section 7 Notification of Material Change in Circumstances
of Applicant
Section 8 Continuing Financial Requirement of Registered
External Insurer
Section 9 Additional Financial Requirements of Registered
External Insurer
Section 10 Separate Account to be Kept by Registered
External Insurer
Section 11 Audit of Accounts of Registered External Insurer
Section 12 Suspension and Cancellation of Registration
Part III - Registration and Control of Underwriting Managers
Section 13 Underwriting Manager to be Registered
Section 14 Application to be Registered as an Underwriting
Manager
Section 15 Observation of Certain Requirements by
Underwriting Manager
Section 16 List of Insurers to be Supplied by Manager
Section 17 Cancellation of Registration of Underwriting
Manager
Part IV - General
Section 18 Registration Not Prohibitive
Section 19 Restriction on Use of Words Associated with
Insurance Business
Section 20 Registered Names
Section 21 Confidentiality
Section 22 Exemption
Section 23 Winding Up
Section 24 Regulations
Section 25 Appeal
Section 26 False Statements
Section 27 Offences Generally
Section 28 External Insurer, Non-Resident Status
Section 29 Responsibility of Registrar
AN ACT TO AMEND THE EXTERNAL INSURANCE ACT
The External Insurance (Amendment) Act - Date of Assent: 24th December,
1996
Section 1 Short Title
Section 2 Amendment of Section 2 (Subsection 1) of
the Principal Act
Section 3 Amendment of Section 10 of the Principal Act
(Insertion of Subsections 3-6)
AN ACT TO AMEND THE EXTERNAL INSURANCE ACT
The External Insurance (Amendment) Act 2001 - 31 August, 2001
Section 1 Short Title
Section 2 Repeal and Replacement of Section 21 of the Principal Act
Section 3 Amendment of the Principal Act (Insertion of 21A)
AN ACT TO AMEND THE INSURANCE ACT
The Insurance (Amendment) Act 2001 - 7 September, 2001
Section 1 Short Title
Section 2 Amendment of the Principal Act (Insertion of 38A)
Section 3 Amendment of the Principal Act (Insertion of 55A)
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