April 12, 2011
Singapore is in the first stage of enhancing its insurance depositor protection and policy owner schemes, following a review of exisiting legislation in the wake of the financial crisis. In its Deposit Insurance and Policy Owner's Protection Schemes Bill 2011, which had its second parliamentary reading today(11 April), the Monetary Authority of Singapore is proposing a number of measures which will strengthen and clarify the propection consumers will receive when purchasing an insurance contract.
Singapore is in the first stage of enhancing its insurance depositor protection and policy owner schemes, following a review of exisiting legislation in the wake of the financial crisis. In its Deposit Insurance and Policy Owner's Protection Schemes Bill 2011, which had its second parliamentary reading today(11 April), the Monetary Authority of Singapore is proposing a number of measures which will strengthen and clarify the propection consumers will receive when purchasing an insurance contract.
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