Insurance (CAP. 218 1
CHAPTER 218
THE INSURANCE ACT
Arrangement of Sections
Section
Preliminary
1. Short title.
2. Application.
3 . Interpretation of terms.
PART I
Registration and Cancellation of Registration of Insurers
Appointment of Registrar.
1ns&-ers to be registered.
Registration of insurers.
De~osit .
Registration fees - Insurers.
Cancellation of registration.
Proposal of Registrar subject to review.
Cancellation of registration at the request of an insurer
etc.
Registration or cancellation to be published in the Gazette.
No person to continue to carry on insurance business
if application for registration rejected.
Persons disqualified from being registered as insurers.
Margin of solvency sufficient for the purposes of carry-
ing on insurance business.
PART I1
Provisions Governing the Carrying On of Insurance Business by
Registered Insurers.
16. Application of Part 11.
17. Registered insurer to maintain principal office and
appoint principal officer.
LAWS OF ANTIGUA AND BARBUDA
2 CAP. 218) Insurance
18. Registered insurer to notify Registrar of certain changes
and particulars.
19. Accounts and balance sheets, etc. of registered insurers
to be submitted to Registrar.
20. Audit of accounts of local insurers.
2 1. Publication of authorised capital, etc., of registered
insurers.
PART I11
Provisions Governing Associations of Underwriters which are Registered
Insurers and the Carrying On of Insurance Business by their Members.
22. Application of Part 111.
23. Premiums received by members of associations of under-
writers to be held in trust.
24. Audit of accounts of members of associations of under-
writers constituted in Antigua and Barbuda.
PART IV
Special Provisions Governing the Carrying On of Life Assurance
Business by Registered Insurers other than Associations of Underwriters
25. Application of Part IV.
26. Life assurers carrying on business other than life
assurance business.
27. Mriodical investigations to be made into financial posi-
tion of life assurers.
28. Amalgamations and transfers of life assurance business.
29. Statement in case of amalgamation or transfer of
business.
PART V
Registration and Cancellation of Registration of Insurance Agents
30. Insurance agents to be registered.
3 1. Registration of insurance agents.
32. Registration fees - Insurance Agents.
33. Cancellation of registration.
34. Proposal of Registrar subject to review.
3 5. Cancellation of registration as an insurance agent when
his appointment as an insurer is cancelled.
36. Registration or cancellation to be published in the Gazette.
37. Appointment of sub-agents.
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Insurance (CAP. 218 3
PART VI
Powers and Duties of the Governor-General, The Registrar and an
Inspector appointed in terms of this Part
38. Registrar may classify insurance business.
39. Registrar may demand information from insurers.
40. Registrar may alter or adapt prescribed forms.
41. Registrar may require information to be supplied in the
English language.
42. Investigation of the affairs of an insurer.
43. Power of Registrar to petition for winding-up on ground
of insolvency.
PART VII
Miscellaneous
.44. Restriction on use of word insurance.
45. Service of process against registered insurers.
46. Action of policy owners against insurers.
47. Inspection of documents etc.
48. Documents furnished to the Registrar in terms of this
Act to be signed and accompanied by copies.
49. False statement etc.
50. General offences and penalties.
5 1. Regulations.
52. ' References to insurance companies in other enactments.
53. Policy not invalid owing to failure to comply with law.
54. Transitional Provisions.
SCHEDULE.
INSURANCE
(1st July, 1969.) 1011967.
1511968.
911977.
1611977.
2111982.
1811989.
1. This Act may be cited as the Insurance Act. Short title-
2. The provisions of this Act shall not extend or apply *pplication.
to-
LAWS OF ANTIGUA AND BARBUDA
4 CAP. 218) Insurance
(a) an association of individuals with no share
capital established for the purpose of rendering aid to
its members or their dependants, commonly called a
friendly society, which does not at any time after the
date of commencement of this Act employ a person
whose main remunerated occupation consists of induc-
ing persons to become members of the association or
of collecting from members of the association contribu-
tions or subscriptions towards the association's funds; or
( b ) a person or a class of persons declared by the
Cabinet by order in the Gazette to be exempt from the
provisions of this Act; or
(c) a class of insurance ,business declared by the
-Cabinet by order in the Gazette to be exempt from the
provisions of this Act.
,Interpretation of 3. (1) In this Act, unless inconsistent with the
terms.
context-
"association of underwriters" means-
( a ) underwriters at LLOYD'S; or
( b ) an association of individual under-
\ writers, organised in accordance with the
system known as LLOYD'S, in which every
underwriting member becomes liable for a
stated part, limited or proportionate to the
whole sum insured by a policy;
"chairman" in relation to an association of persons
includes the individual presiding over the board of
directors or other governing body of the association;
"contingent obligation dependent on human life"
means-
(a) an obligation to pay to a particular
person certain sums of money at specified
intervals or a certain sum of money or to pro-
vide for a particular person a certain other
benefit-
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Insurance (CAP. 218 5
(i) on the occurrence of the death of a parti-
cular person or on the occurrence of the
birth of a child to a particular person at
any time or within a specified period; or
(ii) in the event of a particular person con-
tinuing to live throughout a specified
period or specified periods; or
(6) an obligation assumed-
(i) until the occurrence of the death of a
particular person; or
(ii) during a specified period or until the
occurrence of the death of a particular
person before the expiration of the period;
"continuous disability insurance" means the business
of effecting contracts of insurance which by the
terms thereof are to be of more than one year's
duration, whereby sums are to become payable by
the insurer in the event of the occurrence, within
the duration of the contract, of fatal accident or
of accident or sickness causing injury or disability;
"director" includes an individual occupying the posi-
tion of director or alternate director of an associa-
tion of persons or a member or alternate member
of a committee of management or of any other
governing body of an association of persons by
whatever name he may be called;
"financial year" in relation to a person, means each
period at the end of which the balance of the
accounts of the person is struck, whether that period
is a year or not;
"industrial assurance policy" means a policy whereby
the insurer assumes, in return for a premium or
the promise of a premium payable from time to
time, at intervals not exceeding two months, a con-
tingent obligation dependent on human life, not
exceeding in amount the sum of four hundred
dollars, if the insurer has expressly or tacitly under-
taken to send a person from time to time to the
LAWS OF ANTIGUA AND BARBUDA
6 CAP. 218) Insurance
owner of the policy or to his residence or place of
work to collect the premiums;
(L' Insurance agent" means a person who, on behalf of
an insurer, initiates insurance business or does any '
act in relation to the receiving of proposals for
insurance, the issue of policies or the collection of
premiums;
' L insurance business7'-
(a ) means the business of assuming the
obligations of an insurer in any class of insur-
ance business whatsoever, whether defined in
this section or not, which is not declared to
be exempt from the provisions of this Act by
order made in terms of paragraph (c ) of sec-
tion 2.
( 6 ) includes reinsurance business;
< L insurer" means a person carrying on insurance
business otherwise than as a broker or an agent
for brokers or as an insurance agent or an insurance
sub-agent, who is not a person or a member of a
class of persons declared to be exempt from the pro-
visions of this Act by order made in terms of
paragraph (6) of section 2;
L < life assurance business" means the business of assum-
ing the obligations of an insurer under life policies,
industrial assurance policies or sinking fund policies;
"life assurance fund" means the fund to which the
receipts of an insurer in respect of his life assurance
business are carried;
"life assurer" means a registered insurer carrying on
life assurance business;
"life policy" means a policy whereby the insurer assures,
in return for the payment or the promise of the
payment of a sum or sums of money or the promise
of a periodical payment of a certain premium, a
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 7
contingent obligation dependent on human life and
includes any contract of insurance customarily
regarded as a life assurance contract, but does not
include an industrial assurance policy, a personal
accident policy, a sinking fund policy or an
insurance policy whereby the insurer assumes a
contingent obligation dependent on human life in
which the contingent obligation forms a subordinate
part of the insurance effected by the policy;
"local policy" means a policy issued in Antigua and
Barbuda and includes a life policy issued outside
Antigua and Barbuda and subsequently made
payable in Antigua and Barbuda at the request of
the owner which the owner has agreed in writing
shall be treated as a local policy for the purposes
of this Act, but does not include a life policy made
payable, after the date of its issue, outside Antigua
and Barbuda at the request of the owner which the
owner has agreed in writing shall not be treated
as a local policy for the purposes of this Act;
"Minister" means the Minister responsible for
insurance;
"owner" in relation to a policy, means the person who
is entitled to enforce any benefit provided for in
the policy;
"personal accident policy" means a policy whereby the
insurer assumes, in return for the payment of a
sum or sums of money and otherwise than incident-
ally to an insurance effected by means of some other
class of policy, an obligation to pay a certain sum
or certain sums of money to, or provide any other
benefit for, a particular person in the event of an
accident or sickness causing the death or injury or
disability of a particular person;
"policy" means a valid insurance contract, whatever
the form in which the rights and obligations of the
parties to the contract are expressed or created, and
includes a sinking fund policy but does not include
an insurance contract in which-
LAWS OF ANTIGUA AND BARBUDA
8 CAP. 218) Insurance
(a ) a person or a number of a class of per-
sons declared to be exempt from the provisions
of this Act by order made in terms of
paragraph ( b ) of section 2 assumes the obliga-
tions of the insurer; or
( 6 ) a person assumes the obligations of
an insurer in a class of insurance business
declared to be exempt from the provisions of
this Act by order made in terms of paragraph
(c ) of section 2 ;
"principal officer" means the principal officer of a
registered insurer appointed in terms of section 17;
"registered insurance agent" means an insurance agent
registered in terms of Part V;
"registered insurer" means an insurer registered in
terms of Part I:
"Registrar" means the Registrar of Insurance appointed
in terms of section 4;
"sinking fund policy" not being life business, annuity
business or industrial assurance business means a
contract whereby one party to the contract assumes
the obligation to pay, after the expiration of a
certain period or during a specified period, a cer-
tain sum or certain sums of money to a particular
person in return for the payment or the promise
of a payment from time to time of a certain sum
of money by the other party to the contract;
"underwriting liabilities" in relation to a member of
an association of underwriters, means the liabilities
of the insurance business of the member calculated
in accordance with formulae fixed by the commit-
tee of the association and approved-
( a ) in the case of an association con-
stituted in Antigua and Barbuda, by the
Registrar; and
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Insurance (CAP. 218 9
(6) in the case of an association con-
stituted in a country outside Antigua and
Barbuda, by the appropriate authority in
whom is vested the administration of the
insurance law relating to associations of under-
writers in that country.
(2) For the purposes of this Act, an association of under-
writers shall be treated as an insurer.
PART I
Registration and Cancellation of Registration of Insurers
4. The Governor-General shall appoint an officer, to g$:yt of
be known as the Registrar of Insurance, for the purposes
assigned to the Registrar under this Act and such other pur-
poses as the Governor-General may determine.
5 . (1) Subject to the provisions of subsection (2) no !:=::. be
person shall carry on insurance business in Antigua and
Barbuda unless he is registered as an insurer in the class
of insurance business carried on by him or is a member of
an association of underwriters registered as an insurer in
the class of insurance business carried on by him.
(2) Nothing in subsection (1) contained shall apply to-
(a) a person who carries on, on or after the com-
ing into force of this Act, a class of insurance business
in Antigua and Barbuda which he was lawfully carry-
ing on in Antigua and Barbuda immediately before that
date if-
(i) within two months of that date, he or, as the
case may be, the association of underwriters
of which he is a member applies to the
Registrar to be registered as an insurer in that
class of insurance business; and
(ii) within twelve months of that date, he or, as
the case may be, the association of under-
writers of which he is a member is so
registered; or
( b ) the carrying on by-
LAWS OF ANTIGUA AND BARBUDA
CAP. 218) Insurance
(i) a person whose registration as an insurer in
a class of insurance business has been can-
celled; or
(ii) a member of an association of underwriters,
the registration of which as an insurer, in a
class of insurance business has been cancelled;
in respect of business relating to policies in that class of
insurance business which were issued by him before the date
of the cancellation of his registration as an insurer in that
class of insurance business or, as the case may be, before
the date of the cancellation of the registration of the associa-
tion as an insurer in that class of insurance business; but
nothing in this paragraph shall authorise the renewal of a
policy which was issued by an insurer before the date of the
cancellation.
Registration of
insurers. 6. (1) An application to be registered as an insurer
in a class of business shall be made to the Registrar and
a copy thereof sent to the Minister in the formprescribed
and shall be accompanied by such documents as may be
prescribed.
(2) Subject to the provisions of subsection (5) if the
Registrar is satisfied that-
(a ) an applicant for registration as an insurer is
not disqualified in terms of section 14 from being
registered as an insurer in the class of insurance business
for which application for registration is made; and
(6) the class of insurance business for which
application for registration is made is being conducted
or, as the case may be, will be conducted by the appli-
cant, or, in the case of an applicant who is an associa-
tion of underwriters, by members of the association,
in accordance with sound insurance principles,
he shall notify the Minister that it is his intention to grant
the application unless he receives an order from him under
subsection (5) within seven days of the date of the notifica-
tion and if he receives no order from the Minister within
such period of time or within such extended period of time
as may be agreed between himself and the Minister he shall,
upon payment of the fee payable pursuant to section 8 and
the Schedule to this Act, register the applicant as an insurer
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 11
in that class of insurance business and shall notify the appli-
cant in writing accordingly.
(3) If the Registrar is satisfied that-
(a) an applicant for registration as an insurer is
disqualified in terms of section 14 from being registered
as an insurer in the class of insurance business for which
application for registration is made; or
(6) the class of insurance business for which applica-
tion for registration is made is not being conducted or,
as the case may be, will not be conducted by the
applicant or, in the case of an applicant who is an
association of underwriters, by the members of the
association, in accordance with sound insurance
principles;
he shall notify the applicant in writing that he proposes to
reject the application for registration and of his reasons for
so doing.
(4) If an applicant for registration as an insurer who
has been notified of the Registrar's proposal to reject his
application fails to lodge with the Registrar a notice of his
intention to refer his case for review by the Governor-General
as in subsection (1) of section 10 is provided within the period
mentioned in that subsection or, having lodged such a notice
within that period, withdraws the notice before the Governor-
General gives his decision in the case, the Registrar shall
reject his application and notify the applicant in writing
accordingly.
(5) Notwithstanding anything in the foregoing sub-
sections of this section, if the Minister is of the opinion that
it would be undesirable in the public interest that an
application to be registered -should be granted, he may by
order direct the Registrar not to grant the application and
he need not give any reason for so directing and the Registrar
shall accordingly refuse to grant it or alternatively the
Minister may direct the Registrar to cause the applicant to
be registered subject to such restrictions and conditions
(including the request that the applicant should deposit and
keep deposited with the Accountant-General the sum of fif-
ty thousand dollars or approved securities to the like amount
LAWS OF ANTIGUA AND BARBUDA
12 CAP. 218) Insurance
Deposit.
in respect of the applicant's business and approved by the
Minister) as the Minister may specify in writing and the
Registrar shall proceed accordingly.
.7. An insurer shall not be registered until he satisfies
the Registrar that he has deposited with the Accountant-
General the sum of one hundred thousand dollars and such
deposit shall be maintained and kept during the period the
insurer is registered under this Act and shall bear interest
at the rate of three per cent per annum.
Registration fees
- Insurers. 8. (1) No person shall be registered as an insurer until
he has paid to the Commissioner of Inland Revenue the fee
Schedule. specified in the Schedule to this Act in respect of the class
or classes of insurance business for which registration is
granted.
(2) During the month of January in every year after
the year in which an insurer is registered, he shall pay to
the Commissioner of Inland Revenue the annual fee specified
Schedule. in the Schedule to this Act in respect of the class or classes
of insurance business for which he is registered.
Cancellation of
registration. 9. (1) The Registrar shall notify a registered insurer
in writing that he proposes to cancel his registration as an
insurer and of his reasons for so doing if at any time-
(a) The Registrar is satisfied that-
(i) the registered insurer would, if he were an
applicant for registration as an insurer, be dis-
qualified in terms of section 14 from being
registered as an insurer in the class of insurance
business with respect to which he is registered;
or
(ii) the class of insurance business with respect to
which the insurer is registered is not being con-
ducted by the registered insurer or, in the case
of a registered insurer who is an association
of underwriters, by a member of the associa-
tion, in accordance with sound insurance
principles; or
(iii) the registered insurer and additionally or alter-
natively, in the case of a registered insurer who
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 13
is an association of underwriters, a member
of the association has or have, as the case may
be, failed to comply with the provisions of this
Act or of any insurance law of a country out-
side Antigua and Barbuda applying to the
registered insurer or, as the case may be, the
member of the association, which relates to the
maintenance of a life insurance fund or the
holding in trust of insurance premiums; or
( b ) the registered insurer is convicted of an offence
against section 49 and an appeal against the conviction
is not brought or if brought, is abandoned or dismissed;
or
(c) a judgment is obtained against the registered
insurer or, in the case of a registered insurer who is
an association of underwriters, a member of the associa-
tion in any court in Antigua and Barbuda and remains
unsatisfied for twenty-one days and an appeal from the
judgment is not brought or if brought, is abandoned
or dismissed; or
(4 the registered insurer has failed to pay the
annual fee pursuant to subsection (2) of Section 8:
Provided that if the fee is paid not later than fourteen
days after the date of the Registrar's notification of his
intention to cancel the registration, such registration shall,
subject to this Act, remain in force in respect of the class
or classes of insurance business for which the fee is paid.
(2) If a registered insurer who has been notified of the
Registrar's proposal to cancel his registration as an insurer
fails to lodge with the Registrar a notice of his intention to
refer his case for review by the Governor-General as in
subsection ( 1 ) of section 10 is provided within the period
mentioned in that subsection or, having lodged such a notice
within that period, withdraws the notice before the Governor-
General gives his decision in the case, the Registrar shall
cancel his registration and notify the insurer in writing
accordingly.
10. ( 1 ) A person who is aggrieved by the proposal ~ $ s " , ~ " , ~ ~ b j e c t
of the Registrar to- to review.
LAWS OF ANTIGUA AND BARBUDA
14 CAP. 218) Insurance
(a) reject his application for registration as an
insurer; or
( b ) cancel his registration as an insurer;
may, within thirty days of the date of the notice informing
him of the Registrar's proposal, lodge a notice with the
Registrar of his intention to refer his case for review by the
Governor-General.
(2) A notice of review lodged in terms of subsection
( 1 ) shall be in writing and shall specify in detail the grounds
on which it is made.
(3) The Registrar shall transmit to the Governor-
General a notice of review lodged with him in terms of sub-
section (1).
( 4 ) The Governor-General shall determine whether an
application for registration as an insurer shall be rejected
or, as the case may be, the registration of an insurer shall
be cancelled and the decision of the Governor-General shall
be final and shall not be questioned in any Court of Law.
(5) The Registrar shall give notice in writing to a person
who has referred a case for review under this section of the
Governor-General's decision in the case.
(6) If in giving effect to the decision of the Governor-
General in a case reviewed under this section the Registrar
registers an applicant as an insurer or cancels the registra-
tion of an insurer, he shall notify the applicant or, as the
case may be, the insurer in writing accordingly.
Cancellation of
registration at
I . ( 1 ) The Registrar may, at the request of a
the request of an registered insurer or his liquidator, trustee or judicial -
insurer etc. manager, cancel his registration in any or all of the classes
of insurance business carried on by him in Antigua and
Barbuda.
(2) The Registrar shall cancel the registration of an in-
surer in a class of insurance business if he is satisfied that
the insurer has ceased to carry on that class of insurance
business in Antigua and Barbuda.
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 15
12. The Registrar shall cause a notice of the registra- Registration or
cancellation to be tion of an insurer or the cancellation of the registration of published in the
an insurer to be published in the Gazette. Gazette.
13. ( 1 ) Notwithstanding the provisions of paragraph " ; ~ ~ ~ ~ a r r y
( a ) of subsection ( 2 ) of section 5 a person referred to in that insurance
paragraph shall not, save as is provided in subsection ( 2 ) :;$l;~~:f, for
continue to carry on a class of insurance business in Antigua registration
and Barbuda if he has been notified in writing in terms of rejected.
subsection (4) of section 6 or subsection ( 5 ) of section 10
that his application for registration in that class of insurance
business or, as the case may be, the application for registra-
tion in that class of insurance business of the association of
underwriters of which he is a member has been rejected.
( 2 ) The provisions of paragraph ( b ) of subsection ( 2 )
of section 5 shall, mutatis mutandis, apply to a person refer-
red to in subsection ( 1 ) .
14. The Registrar shall not register as an insurer- Persons
disqualified from
( a ) an applicant other than a person referred to in :'i~~~~~d
paragraph ( a ) of subsection ( 2 ) of section 5 if the name
under which the applicant desires to be registered is iden-
tical with the name of a person referred to in that
paragraph or of a registered insurer or so nearly
resembles the name of that person or registered insurer
as to be likely to be mistaken for it unless that person
or registered insurer is being or is to be wound up or
dissolved or, as the case may be, has ceased to carry
on insurance business in Antigua and Barbuda and con-
sents to the registration of the applicant under the name
in question; or
( 6 ) an applicant including an association of under-
writers or a member of such association unless the
applicant's margin of solvency is, in terms of section 15
sufficient for the purposes of the class or, as the case
may be, classes of insurance business for which applica-
tion for registration is made; or
(c) an applicant who is a corporate body with share
capital, unless the applicant-
LAWS OF ANTIGUA AND BARBUDA
16 CAP. 218) Insurance
(i) is lawfully constituted in accordance with the
laws of the country in which the head office
of the applicant is situate; and
(ii) has a paid-up share capital of not less than
two hundred thousand dollars or an equivalent
sum in other currency; and
(iii) is registered in Antigua and Barbuda as a com-
pany under the Companies Act.
Margin of
solvency
15. (1) An insurer carrying on insurance business
sufficient for the both within and outside Antigua and Barbuda shall be treated
purposes carrying on as having a margin of solvency sufficient for the purposes
insurance of carrying On-
business.
(a) any class of insurance business other than life
assurance business, if the value of his assets in respect
of the classes of insurance business carried on by him
exceeds the amount of his liabilities in respect of the
classes of insurance business carried on by him by-
(i) $200,000.00 or an equivalent sum in other
currency; or
(ii) one tenth of his premium income in his
last preceding financial year;
whichever is the greater amount;
( b ) life assurance business only, if his liabilities
under unmatured life, industrial assurance and sinking
fund policies do not exceed the amount of his life
assurance fund;
(6) any class of insurance business, including life
assurance business, if-
(i) in respect of his life assurance business, he has
such a margin of solvency as is prescribed in
paragraph ( b ) ; and
(ii) the value of his assets in respect of all classes
of insurance business carried on by him
exceeds the amount of his life assurance fund
together with all his liabilities other than his
liabilities in respect of unmatured life,
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 17
industrial assurance and sinking fund policies
by-
A. $200,000.00 or an equivalent sum in other
currency; or
B. one-tenth of his premium incame, other
than life assurance premium income, in his
last preceding financial year;
whichever is the greater amount
(2) In calculating the margin of solvency referred to in
paragraph (a) and sub-paragraph (ii) of paragraph (c) of
subsection (1)-
(a) all contingent and prospective liabilities of an
insurer, but not liabilities in respect of share capital,
shall be taken into account in assessing the amount of
the liabilities of the insurer; and
(b) an insurer's premium income, other than life
assurance premium income, in any financial year shall
be assessed as the net amount, after deduction of any
premiums paid by the insurer in respect of reinsurance
of the premiums received by the insurer in his last
preceding financial year in respect of all insurance
business, other than life assurance business, carried on
by him in the last preceding financial year.
PART I1
Provisions Gouerning the Carrying on of Insurance Business by
Registered Insurers
16. The provisions of this Part shall apply to ;:~li;;tion of
registered insurers.
17. (1) A registered insurer shall maintain a prin- :$f::,d
cipal office in Antigua and Barbuda and shall appoint a prin- maintain
cipal officer in Antigua and Barbuda. principal office and appoint
principal officer.
(2) A registered insurer shall notify the Registrar in
writing of the situation of his principal office and the name
of his principal officer.
(3) If a registered insurer changes the situation of his
principal office in Antigua and Barbuda or appoints a new
LAWS OF ANTIGUA AND BARBUDA
18 CAP. 218) Insurance
principal officer, he shall, within twenty-one days of the
change or appointment, give notice thereof to the Registrar
in writing.
(4) The principal officer shall be authorised to accept
on behalf of the insurer service of processes and any notices
required to be served on the insurer.
(5) For the purposes of this section a principal office
may be a branch office or the office of an agent of the insurer.
Registered
insurers to notify
18. A registered insurer shall, within six months of
Reeistrar of the end of each financial year, notify the Registrar in writing - , . - -
certain changes of any change which occurred in that year in any matter
and particulars.
prescribed in relation to the insurer for the purposes of this
section.
Accounts and
balance sheets, 19. (1) A registered insurer shall, within six months
C ~ C . of reeistered of the end of each financial vear. DreDare and furnish to the " , d L .
insurers be Registrar in the appropriate forms prescribed- submitted to
Registrar. (a) a certificate as to the solvency of the insurer,
certified, in the case of a life assurer, by an actuary; and
( b ) a balance sheet showing the financial position
of the insurer's insurance business at the close of that
year; and
(c) a profit and loss account in respect of insurance
business carried on by the insurer in that year; and
(d) a revenue account in respect of life insurance
business, if any, carried on by the insurer in that year;
and
(e) a statement of life assurance business, other than
business in connection with industrial assurance and
sinking fund policies, if any, carried on by the insurer
in Antigua and Barbuda in that year; and
(f) revenue accounts in respect of insurance
business, other than life assurance business, if any, car-
ried on by an insurer in that year; and
(g) such other documents and information relating
to the accounts and balance sheet referred to in this
subsection as may be prescribed.
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 19
(2) A registered insurer shall furnish to the Registrar
with the documents referred to in subsection (1) a copy of
any report on the affairs of the insurer submitted to the policy-
owners or share-holders of the insurer in respect of the finan-
cial year to which those documents relate.
(3) If, in the opinion of the Registrar, an account or
balance sheet furnished by a registered insurer in terms of
subsection (1) is incorrect or is not prepared in accordance
with the provisions of this Act, the Registrar may, by notice
in writing, call upon the insurer to amend the account or
balance sheet or to furnish a correct account or balance sheet
or, as the case may be, an account or balance sheet prepared
in accordance with the provisions of this Act.
(4) If a registered insurer fails to comply with a notice
referred to in subsection (3) to the satisfaction of the Registrar,
the Registrar may himself either amend the document in
question, giving the insurer particulars of the amendments,
or reject the document.
(5) An account or balance sheet amended by the
Registrar or by a registered insurer in terms of this section
shall be treated as having been submitted to the Registrar
in its amended form.
(6) If the account or balance sheet of a registered
insurer has been rejected by the Registrar in terms of sub-
section (4), the insurer shall be treated as having failed to
comply with the provisions of subsection (1) in relation to
that account or balance sheet unless and until he has furnished
another account or balance sheet in accordance with the direc-
tions of the Registrar.
(7) A registered insurer liable under a local life, in-
dustrial assurance or sinking fund policy shall, at the request
of the owner, furnish him free of charge with a copy of the
revenue account, profit and loss account or balance sheet
prepared by the insurer in terms of subsection (1) in respect
of his last preceding financial year.
20. (1) The accounts of an insurer shall be audited ~ ~ ~ ~ ~ ~ ~ , " ; ~ , " ~ ~ s
annually by an auditor approved by the Registrar. The
LAWS OF ANTIGUA AND BARBUDA
20 CAP. 218) Insurance
auditor shall not be an employee, manager or director of
the insurer.
(2) The auditor of an insurer shall satisfy himself that
the accounts of the insurer have been properly prepared in
accordance with the books and records of the insurer.
(3) The auditor of an insurer shall certify whether-
( a ) he has obtained adequate information from the
books and records of the insurer; and
( 6 ) the accounts of the insurer accord with the in-
formation given to him by the insurer for the purposes
of his audit; and
(c) the balance sheet and profit and loss account
respectively of the insurer give a true and fair view of
the insurer's financial position and profit and loss.
Publication of
authorised 21. A registered insurer shall not publish a statement
capital, etc., of or issue a document on which is printed a statement-
registered
insurers. ( a ) of his authorised capital, unless the statement
also sets forth the amount of his subscribed capital and
of his paid-up capital; or
( 6 ) of his subscribed capital, unless the statement
also sets forth the amount of his paid-up capital.
PART 111
Provisions Governing Associations of Underwriters which are Registered
Insurers and the Carrying on $Insurance Business by their Members
Application of
Part 111.
22. The provisions of this Part shall apply to associa-
tions of underwriters which are registered insurers and their
members.
Premiums
received by
23. All premiums received by each member of an
members of association of underwriters shall be held in trust in the names
of trustees for the payment of the underwriting liabilities
underwriters to
be held in trust. attached thereto of each member and the expenses of his
insurance business.
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 2 1
24. ( 1 ) The accounts of a member of an association Audit of accounts
of members of of underwriters constituted in Antigua and Barbuda shall assoc~ations of
be audited annually by an auditor approved by the Registrar. undefwriters
constituted in The auditor shall not be an employee, manager or director Antigua and
of the member. Barbuda.
(2) The auditor of a member of an association of under-
writers constituted in Antigua and Barbuda shall satisfy
himself that the accounts of the member have been properly
prepared in accordance with the books and records of the
member.
(3) The auditor of a member of an association of under-
writers constituted in Antigua and Barbuda shall certify to
the committee of the association whether-
( a ) he has obtained adequate information from the
books and records of the member; and
(b) the accounts of the member accord with the in-
formation given to him by the member for the purposes
of his audit; and
(c) the balance sheet and profit and loss account
respectively of the member give a true and fair view
of the member's financial position and profit or loss.
PART IV
Special Provisions Governing the Carrying on of Life Assurance
Business by Registered Insurers other than Associations of Underwriters
25. The Provisions of this Part shall apply to life ~ ~ 1 ~ ; ~ of
assurers who are not associations of underwriters.
26. ( 1 ) A life assurer who carries on, in addition to f z z
his life assurance business, any other business whether business other
insurance business or otherwise, shall keep a separate account i;:zrEe
of all receipts in respect of his life assurance business. business.
( 2 ) The receipts in respect of the business of a life assurer
referred to in subsection ( 1 ) which are receipts in respect
of his life assurance business shall be carried to and form
part of the life assurance fund.
LAWS OF ANTIGUA AND BARBUDA
2 2 CAP. 218) Insurance
(3) The life assurance fund of a life assurer referred to
in subsection (1) shall be as absolutely the security of the
owners of the life, industrial assurance and sinking fund
policies issued by the life assurer as though it belonged to
a life assurer carrying on no other business than life assurance
business. Payments from the life assurance fund of a life
assurer referred to in subsection (1) shall not be made in
pursuance of the contracts of the life assurer which would
not be made if the business of the life assurer were only that
of life assurance, and the life assurance fund shall not be
applied directly or indirectly to any purposes other than those
of life assurance.
(4) Nothing in this section contained shall preclude a
life assurer referred to in subsection (1) from investing the
life assurance fund in the same investments as any other fund.
Periodical
investigation to 27. (1) A life assurer shall, not less than once in every
be made into five vears. cause an investi~ation into his financial ~osition.
0
financial position
of life assurers. including a valuation of his liabilities, to be made by an
actuary.
(2) A life assurer whose financial position is investigated
in terms of this section, shall prepare and furnish to the
Registrar in the appropriate forms prescribed, within six
months of the date to which his accounts are made up for
the purposes of the investigation, an abstract of the report
of the actuary by whom the investigation was made and a
statement of his assurance business at that date.
(3) The provisions of subsections (1) and (2) shall, sub-
ject to the provisions of subsection (4), apply at any time
an investigation into the financial position of a life assurer
is made with a view to a distribution of profits.
(4) A life assurer whose financial position is investigated
with a view to a distribution of profits shall not be required
to furnish to the Registrar a statement of his assurance
business such as is referred to in subsection (2) more than
once in every five years.
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 2 3
28. (1) NO local insurer shall- Amalgamations
and transfers of
(a) amalgamate with one or more insurers if one ikir:ifance
or more or all of the insurers to be amalgamated are
persons carrying on life assurance business; or
(b) transfer his life assurance business or a part of
his life assurance business to or take transfer of the life
assurance business or a part of the life assurance business
of another insurer;
unless the amalgamation or, as the case may be, the transfer
is sanctioned by the Governor-General in accordance with
the provisions of this section.
(2) If it is intended to amalgamate two or more insurers
carrying on life assurance business, one or more or all of
whom are local insurers, or to transfer the life assurance
business or a part of the life assurance business of one insurer
to another insurer one or both of whom are local insurers,
the directors of the insurers concerned may apply to the
Governor-General to sanction the proposed amalgamation
or, as the case may be, transfer.
(3) Before an application to the Court is made in terms
of subsection (2)-
(a) notice of the intention to make the application
shall be published in the Gazette; and
(b) a statement of the nature of the amalgamation
or, as the case may be, transfer, together with-
(i) an abstract containing the material facts
embodied in the agreement under which the
amalgamation or transfer is proposed to be
affected; and
(ii) copies of the actuarial reports upon which
agreement referred to in sub-paragraph (i) is
founded, including a report by an actuary;
shall be posted to the registered or last known address
of each life, industrial assurance or sinking fund policy-
owner in Antigua and Barbuda of each insurer and to
the Registrar; and
LAWS OF ANTIGUA AND BARBUDA
2 4 CAP. 218) Insurance
(c) the agreement under which the amalgamation
or, as the case may be, transfer is proposed to be effected
shall be open for inspection by policy-owners and
shareholders at the offices of the insurers in Antigua
and Barbuda for a period of twenty-one days after the
publication of the notice in the Gazette.
(4) The Court, after considering the application, and
such representations as may be made by policy-owners and
shareholders of the insurers concerned and by other persons
whom the Court considers are entitled to be heard, may sanc-
tion the arrangement if it is satisfied that no sufficient objec-
tion to the arrangement has been established.
(5) The Court shall not sanction an amalgamation or,
as the case may be, transfer if it appears to the Court that
the life, industrial assurance and sinking fund policy-owners,
representing one-fifth or more of the total amount insured
by any of the insurers carrying on life assurance business
concerned, dissent from the amalgamation or transfer.
(6) If an amalgamation or transfer has taken place in
accordance with the provisions of this section, no life,
industrial assurance or sinking fund policy-owners shall be
regarded as having abandoned any claim which he would
have had against the original insurer or to have accepted
in place thereof the liability of another insurer, unless he
or his agent has signed a written document abandoning that
claim and accepting in place thereof the liability of that other
insurer.
(7) In this section "Court" means a judge of the High
Court sitting in Chambers.
Statement in case 29. Within three months after the date of the
of amalgamation
or transfer of completion of an amalgamation or transfer referred to in
business. section 28, the combined insurer or, as the case may be,
the purchasing insurer shall deposit with the Registrar-
(a) certified copies of statements of the assets and
liabilities of the insurers concerned in the amalgama-
tion or transfer, together with a statement of the nature
and terms of the amalgamation or transfer; and
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218
( b ) a certified copy of the agreement or deed under
which the amalgamation or transfer was affected; and
(c) certified copies of the actuarial or other reports
upon which the agreement or deed was founded; and
(6) a declaration under the hand of the chairman
of each insurer and of the principal officer of each insurer
that-
(i) to the best of their knowledge and belief, every
payment made or to be made to any person
whatsoever on account of the amalgamation
or transfer is therein fully set forth and no other
payments, except those set forth, have been
made or are to be made, either in money,
policies, bonds, valuable securities or other
property, by or with the knowledge of the
parties to the amalgamation or transfer; and
(ii) due notice of the proposed amalgamation or
transfer was given to the shareholders, if any,
and policy-owners of each insurer concerned
in compliance with the provisions of section 28.
PART V
Registration and Cancellation of Registration of Insurance Agents
30. (1) No person shall act as an agent for an insurer Insurance agents
to be registered.
or an insurance broker unless that person is registered as
an insurance agent or a broker's agent.
(2) No insurance agent shall act as an agent for two
or more insurers unless he is registered as an insurance agent
for each such insurer and in respect of each such insurer
there shall be a separate registration of the insurance agent.
(3) Nothing in subsections (1) and (2) contained shall
apply to a person who acts as an insurance agent on or after
the date of commencement of this Act, if-
(a) immediately before that date he was acting in
Antigua and Barbuda as an insurance agent; and
LAWS OF ANTIGUA AND BARBUDA
2 6 CAP. 218) Insurance
( b ) within six weeks of that date an application is
made by an insurer for him to be registered as an
insurance agent; and
(c ) within three months of that date he is so
registered.
Registration of
insurance agents.
3 1. (1) An application for a person to be registered
as an insurance agent shall be made by the insurer appoint-
ing the agent to The Registrar in the'form prescribkd and
shall be accompanied by-
(a) a copy of the power of attorney or similar
authorisation in which the insurer defines the powers
of the agent acting on his behalf and the actions of the
agent for which the insurer will hold himself responsible;
and
( b ) police record of the agent obtained from the
various territories in which he has lived for a period
of six months or more; and
(c ) such other documents as may be required by
the Registrar.
(2) The Registrar shall require to be produced before
him the original of the power of attorney or similar
authorisation referred to in paragraph ( a ) of subsection (1).
(3) The Registrar shall not register as an insurance agent
any person who has in terms of any enactment in force in
Her Majesty's dominions relating to insolvency or bank-
ruptcy been adjudged or otherwise declared insolvent or
bankrupt and has not been rehabilitated or discharged or
has, in terms of any enactment in force in Her Majesty's
dominions relating thereto, made an assignment to or
arrangement or composition with creditors which has not
been rescinded or set aside.
(4) The Registrar may refuse to register as an insurance
agent any person who has been convicted by any Court
wheresoever situate of any offence involving dishonesty or
has been convicted of an offence against section 49, an appeal
against the conviction not having been brought or, if brought,
having been abandoned or dismissed, and the Registrar shall
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 27
not so register such a person at any time during the five
years immediately succeeding the conviction.
(5) The Registrar shall not register any person as an
insurance agent for an insurer not registered as an insurer
in terms of this Act.
(6) Unless the Registrar is satisfied that an application
by an insurer for registration of a person as an insurance
agent should be rejected under the provisions of any or all
of subsections (3), (4) and ( 5 ) , the Registrar shall upon pay-
ment of the fee payable pursuant to section 32 and the
Schedule to this Act, register that person as an agent for
that insurer and shall notify the applicant in writing
accordingly.
(7) If the Registrar is satisfied that an application by
an insurer for registration of a person as an insurance agent
should be rejected under the provisions of any or all of sub-
sections (3), (4) and ( 5 ) , the Registrar shall notify the
applicant in writing that he proposes to reject the applica-
tion and of his reasons for doing so.
(8) If an applicant for the registration of an insurance
agent who has been notified of the Registrar's proposal to
reject his application fails to lodge with the Registrar a notice
of his intention to refer his case for review, by the Governor-
General as in subsection (1) of section 34 is provided within
the period mentioned in that subsection or, having lodged
such a notice within that period, withdraws the notice before
the Governor-General makes his decision in the case, the
Registrar shall reject his application and shall notify the
applicant in writing accordingly.
32. (1) NO person shall be registered as an insurance Registration Fees - Insurance
agent until he has paid to the Commissioner of Inland Agents.
Revenue the fee specified in the Schedule to this Act for that Schedule.
purpose.
(2) During the month of January in every year after
the year in which an insurance agent is registered, he shall
pay to the Commissioner of Inland Revenue the annual fee
specified in the Schedule to this Act for that purpose.
LAWS OF ANTIGUA AND BARBUDA
28 CAP. 218) Insurance
Cancellation of
registration. 33. (1) If the Registrar is satisfied that a person
registered as an insurance agent would, if an application were
made for him to be registered as an insurance agent, not
be registered having regard to any or all of the provisions
of subsections (3) and (4) of section 31, the Registrar shall
notify that person and each and every insurer for whom that
person is registered as an insurance agent that he proposes
to cancel all registrations of that person as an insurance agent.
(2) Where an insurance agent has failed to pay the
annual fee pursuant to subsection (2) of section 32, the
Registrar shall notify the insurer and the insurance agent
concerned that he proposes to cancel the registration of that
agent:
Provided that if the fee is paid not later than fourteen
days after the date of the Registrar's notification of his
intention to cancel the registration of the insurance agent,
such registration shall, subject to this Act, remain in force.
(3) If at any time the registration of an insurer is can-
celled the Registrar shall at the same time cancel the registra-
tions as insurance agents for that insurer of all persons so
registered.
(4) If a registered insurance agent and each insurer who
has been notified of the Registrar's proposal to cancel any
or all of the registrations of that insurance agent pursuant
to subsections (1) and (3) fails to lodge with the Registrar
a notice of his intention to refer the Registrar's proposal for
review by the Governor-General as in subsection (1) of
section 34 is provided within the period mentioned in that
subsection or, having lodged such a notice within that period,
withdraws the notice before the Governor-General makes his
decision in the case, the Registrar shall cancel the registra-
tion or registrations as notified in his proposal and shall notify
the insurance agent and the said insurers of this cancella-
tion in writing accordingly.
Proposal of
Registrar subject 34. (1) An insurer who is aggrieved by the proposal
to review. of the Registrar to reject his application for the registration
of a person as an insurance agent or to cancel such registra-
tion and an insurance agent who is aggrieved by the proposal
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 2 9
of the Registrar to cancel in accordance with subsection (1)
of section 33 any or all of his registrations as an insurance
agent may, within thirty days of the date of the notice inform-
ing him of the Registrar's proposal, lodge a notice with the
Registrar of his intention to refer his case for review by the
Governor-General.
(2) In relation to the notice of review and the review
referred to in subsection (1)' the provisions of subsections
(2), (3)' (4)' (5) and (6) of section 10 shall apply mutatis
mutandis.
35. (1) If at any time an insurer terminates his :e;::::E~fan
appointment of a person to act as an insurance agent for insurance agent
him, he shall at the same time notify the Registrar in writing
as
of the name of the person whose appointment he has an insurer is
terminated. cancelled.
(2) The Registrar shall cancel the registration of a
person as an insurance agent for an insurer if that insurer
terminates the appointment of that person to act as an insur-
ance agent for him.
36. The Registrar shall cause the registration of a Registration or cancellation to be
person as an insurance agent or the cancellation of the published in the
registration of an insurance agent to be published in the G"fte.
Gazette.
37. (1) No person shall act as an insurance sub-agent :$y~z;t of
for a registered insurance agent unless that person has
received from a registered insurance agent a letter of appoint-
ment or similar authorisation in which that agent defines
the powers of the sub-agent acting on his behalf and the
actions of the sub-agent for which that agent will hold himself
responsible.
(2) An insurance sub-agent shall on demand by the
Registrar or by any person authorised by the Registrar in
that behalf produce to the Registrar or to any such person
the sub-agent's letter of appointment or similar authorisa-
tion referred to in subsection (1).
LAWS OF ANTIGUA AND BARBUDA
30 CAP. 218) Insurance
PART VI
Powers and Duties of the Gouernor-General, The Registrar and an
Inspector appointed in terms of this Part
Registrar may
classify insurance
38. (1) At the request of an insurer the Registrar
business. may, subject to the provisions of subsection ( 2 ) and to such
conditions and limitations as the Registrar may fix, deter-
mine that any insurance business of any particular class which
the insurer carried on or intends to carry on shall be treated
for the purposes of this Act, as insurance business of another
class.
( 2 ) The Registrar shall not accede to a request referred
to in subsection (1) unless he has satisfied himself that his
determination will not be detrimental to the interest of any
person and will not defeat the objects and purposes of this Act.
Registrar may
demand 39. The Registrar may, for the purposes of carrying
information from out the provisions of this Act, demand from a registered
insurers. insurer or an applicant for registration as an insurer any
document or information relating to any matter connected
with his business or transactions, whether insurance business
or transactions or otherwise.
Registrar may
alter or adapt
40. On the application of or with the consent of a
prescribed forms. registered in~urer or an applicant for registration as an in-
surer, the Registrar may alter any prescribed form for the
purpose of adapting the form to meet the circumstances of
the registered insurer or applicant.
Registrar may
require
41. The Registrar may require any person who
information to be furnishes to the Registrar, in terms of this Act, any state-
supplied in the ment, certificate or other document whatsoever in a language
English language. other than the English language to provide a translation of
that document in the English language at that person's
expense.
Investigation of
the affairs of an
42. (1) ~ f -
insurer. (a ) an insurer, having faded to furnish the Registrar
with any documents or information required by or under
a provision of this Act, within the period specified, has
not furnished that document or information within a
period of thirty days, commencing on the date upon
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 3 1
which the Registrar reminded him in writing of his
failure; or
( b ) an insurer, having furnished incorrect or in-
complete information to the Registrar has not furnished
correct or complete information within a period of thirty
days, commencing on the date upon which the Registrar
called upon him in writing to correct or complete the
information; or
(c) an insurer has not within a period of thirty days
commencing on the date upon which the Registrar
demanded from him in writing any document or
information which the Registrar was entitled, in terms
of this Act, to demand from him, furnished that docu-
ment or information to the satisfaction of the Registrar;
or
(d) any document or information furnished by any
insurer to the Registrar shows that the insurer has failed
to comply with the provisions of this Act; or
(e) the auditor or actuary of an insurer has in-
formed the insurer of an irregularity that requires
correction and the insurer has not corrected that
irregularity within a period of thirty days, commencing
on the date upon which the Registrar called upon him
in writing to correct the irregularity; or
V) the Registrar is in possession of information
which, in his opinion, calls for an investigation into the
affairs of an insurer and the insurer has failed to furnish
within a period of thirty days commencing on the date
the Registrar called upon him in writing to do so, a
satisfactory explanation of any matter which forms
ground for the Registrar's opinion;
the Registrar and, additionally or alternatively, an inspec-
tor who shall be appointed by the Governor-General for the
purpose, may investigate the affairs or any part of the affairs
of the insurer.
(2) No investigation shall be made into the affairs of
an insurer in terms of subsection (1) without the approval
of the Governor-General.
LAWS OF ANTIGUA AND BARBUDA
CAP. 218) Insurance
Power of
registrar to
petition for
winding up on
ground of
insolvency.
Restriction on
use of word
insurance.
(3) For the purposes of making an investigation as in
subsection ( 1 ) is provided, the Registrar and additionally
or alternatively, as the case may be, an inspector appointed
in terms of that subsection, shall have the same powers, rights
and privileges as are conferred upon a commissioner by the
Commissions of Inquiry Act, and the provisions of that Act
shall mutatis mutandis apply in relation to an investigation
made in terms of this section and to any person summoned
to give evidence at that investigation.
(4) On the completion of an investigation made in terms
of this section, the Registrar and, additionally or alternatively,
as the case may be, an inspector appointed in terms of sub-
section ( 1 ) shall furnish to the Governor-General a report
of the investigation and to the insurer whose affairs are
investigated a summary of the conclusions arrived at as a
result of the investigation.
(5) The Governor-General may recover from an insurer
whose affairs are investigated in terms of this section all
expenses necessarily incurred in connection with the
investigation.
43. ( 1 ) A petition for the winding up of a company
carrying on insurance business on the ground that it is
insolvent within the meaning of the Companies Act may,
with the leave of the Court, be presented by the Registrar.
( 2 ) Subject to the provisions of section 2 a company
carrying on insurance business shall be deemed, fqr the
purposes of the Companies Act, to be insolvent if the jvalue
of its assets does not exceed the amount of its liabilithes by
at least the relevant margin of solvency prescribed under
section 15.
PART VII
Miscellaneous
44. After expiry of one year from the commencement
of this Act-
(a ) no person or body of persons, whether incor-
porated or unincorporated, other than a company
authorised to carry on insurance business in accordance
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 3 3
with the provisions of this Act, shall have or use, or
continue to have or use the word "insurance", or
6' assurance", or any derivative thereof, in the name
under which such person or body of persons is carrying
on business; and
(6) no company so authorised shall, without the
written authorisation of the Governor-General, carry
on insurance business unless it has and uses as part of
its name the word "insurance" or "assurance" or a
derivative thereof.
45. ( 1 ) Process in any legal proceedings against a service of process
against registered
registered insurer, who is not an association of underwriters, in,u,r,.
may be served at the principal office of the insurer in Antigua
and Barbuda.
(2) If the principal office in Antigua and Barbuda of
a registered insurer, who is not an association of underwriters,
has ceased to exist, process in any legal proceedings against
the insurer may be served at the office of the Registrar.
(3) Service of process upon the Registrar, in accordance
with the provisions of subsection ( 2 ) shall be deemed to be
service upon the insurer.
46. The owner of a local policy shall, notwithstanding Action by policy
owners against
any contrary provision in the policy or in any agreement
relating to the policy, be entitled to enforce his rights under
the policy against the insurer liable under the policy in any
competent court in Antigua and Barbuda.
47. ( 1 ) A person may, on payment to the Registrar Inspection of
documents etc.
of the appropriate prescribed fee-
(a) inspect; or
(6) inspect and make a copy of
any document furnished to the Registrar in terms of sec-
tions 6, 19, or 27.
(2) The Registrar shall, without charge, furnish at the
request of any person the names of the principal officer in
Antigua and Barbuda of a registered insurer and the address
LAWS OF ANTIGUA AND BARBUDA
34 CAP. 218) Insurance
of the principal office in Antigua and Barbuda of a registered
insurer.
Documents
furnished to the
48. An insurer shall be regarded as having failed to
Registrar in comply with a provision of this Act requiring an insurer to
terms of this furnish documents or copies of documents to the Registrar,
to be signed and
accompanied by unless-
copies.
(a) in the case of a document prepared by the
insurer which is not in a form prescribed-
(i) the document is signed-
A. by the chairman and one other director of
the insurer or, by such other person or per-
sons having control over the business of
the insurer as the Registrar may specify;
and
B. if the insurer is not an association of under-
writers, by the principal officer of the
insurer; and
C . by such persons other than the persons
referred to in subparagraphs A and B as
are required by a provision of this Act to
sign or certify the document; and
(ii) the document is accompanied by two copies;
and
(b) in the case of a document prepared by the
insurer which is in a form prescribed-
(i) the document is signed by the persons specified
in the form or by such other person or per-
sons having control over the business of the
insurer as the Registrar may specify; and
(ii) the document is accompanied by two copies;
and
(c) in the case of an original document other than
a document referred to in paragraph (a) or (b), the docu-
ment is accompanied by two copies; and
(4 in the case of a copy of a document, the copy
is accompanied by two other copies one of which is certi-
LAWS OF ANTIGUA AND BARBUDA
Insurance (CAP. 218 3 5
fied as correct by the insurer or by an officer of the
insurer.
49. (1) If a person issues a document referred to in statement
this Act which is false in any material respect, that person
and every other person who took part in the preparation
or issue of the document or who signed it shall be guilty
of an offence, unless it is proved that the accused (if an
individual) or all the persons who acted on behalf of the
accused (if the accused is not an individual) had no knowledge
of the falsity of the document when it was issued.
(2) A person guilty of an offence specified in subsection
(1) shall be liable, if the offender is an individual, to a fine
not exceeding one thousand dollars or to imprisonment for
a period not exceeding six months or to such imprisonment
without the option of a fine or to both such fine and such
imprisonment or, if the offender is not an individual, to a
fine not exceeding three thousand dollars.
50. A person who contravenes a provision of this Act f ~ ~ ; ~ ~ ; ~ ~ ~ ~
or fails or neglects to comply with a provision of this Act
with which it is his duty to comply shall be guilty of an offence
and, if no penalty is specially provided for that contravention
or default, shall be liable, if the offender is an individual,
to a fine not exceeding three thousand dollars or to imprison-
ment for a period not exceeding six months without the option
of a fine or, if the offender is not an individual, to a fine
not exceeding five thousand dollars.
5 1. (1) The Governor-General may make regulations R e ~ l a t i o n s .
prescribing anything which under this Act is to be prescrib-
ed and generally for the better carrying out of the objects
and purposes of this Act.
(2) In regulations made in terms of subsection (I) , the
Governor-General may make different provision for different
classes of insurers and for different classes of insurance
business.
52. Any reference in any enactment in force in Referencest0
insurance
Antigua and Barbuda relating to companies to a company companies in
carrying on insurance business in terms of any other enact- other enactments.
ment or to an insurance company registered or licensed in
LAWS OF ANTIGUA AND BARBUDA
36 CAP. 218) Insurance
terms of any other enactment shall be read and construed
as a reference or, if the context so requires, as including
a reference to a company carrying on insurance business in
terms of this Act.
Policy not
invalid owing to
53. A policy issued by any person, whether before,
failure to on or after the date of this Act, shall not be invalid merely
with law. because that person contravened or failed to comply with
the provisions of any enactment in force applying to that
policy.
Transitional 54. Where an insurer or an insurance agent is
Provisions.
registered under this Act at the date when the Revenue
(Miscellaneous Provisions) Act, 1982 (in this section called
2111982. "the Act of 1982") came into operation, all fees payable
by him in respect of the year 1982 pursuant to sections 8
and 32 and the Schedule to this Act shall be paid not later
than twenty-eight days after the date when the Act of 1982
came into operation.
S C H E D U L E ( S E C T I O N S
8 A N D 32)
1. Fee to be paid on registration of an insurer in respect of-
(a) life insurance business $5000.00
(b) non-life assurance business $5000.00
( G) both life and non-life assurance business $5000.00
2. Annual fee to be paid by an insurer for continued registration
in respect of-
(a) life assurance business $5000.00
(b) non-life assurance business $5000.00
(6) both life and non-life assurance business $5000.00
3 . Fee to be paid on registration of an insurance
agent $500.00
4. Annual fee to be paid for continued registra-
tion of an insurance agent $500.00
