IGF
Part 4, Section 45 of the Short Term Insurance Act, 1998 provides for the safeguarding of premiums received by agents, brokers and other persons on behalf of registered short term insurers. This means that no intermediary may hold, receive or deal with premiums payable for short term insurance policies unless the intermediary provides security. The security must conform to the regulations of Part 4, Section 45 of the Short Term Insurance Act, 1998.
For more information please visit www.igfsec45.co.za