Insurance - Fee Schedule

9The following is the Schedule of fees paid in accordance with the Forms and Fees regulations attached to the Insurance and Exempt Insurance Acts, and section 44 (1) of the Financial Services Commission Act, 2010-21.

DOMESTIC COMPANIES

FOR FILING OF AN APPLICATION	AMOUNT OF FEE (BBD$)
An insurance company	500.00
An association of underwriters	500.00
An individual, company or a firm of brokers	300.00
An individual, company or a firm of agents or sub-agents	200.00
A salesman	50.00
An individual, company or firm of loss assessors, adjusters and insurance surveyors	500.00

FOR ANNUAL REGISTRATION	AMOUNT OF FEE (BBD$)
An insurance company (writing new business)	20,000.00
An insurance company (not writing new business)	3,000.00
An association of underwriters	20,000.00
An individual, company or a firm of brokers	3,000.00
An individual, company or a firm of agents or sub-agents	2,000.00
A salesman	200.00
An individual, company, or firm of loss assessors, adjusters and insurance surveyors	500.00
For taking a record of any fact required by the Act or authorized to be recorded by the Supervisor	10.00

Registration fees are due and payable on the first day of January in each year. Failure to pay the fee within 30 days after the fee becomes due and payable, will result in the payment of a penalty which is equal to the fee.

EXEMPT INSURANCE AND QUALIFYING INSURANCE COMPANIES

FILING OF AN APPLICATION	AMOUNT OF FEE (BBD$)
Exempt Insurance company	500.00
Management company	500.00
Holding company	500.00
Qualifying Insurance company	500.00

FOR ANNUAL LICENCE	AMOUNT OF FEE (BBD$)
Exempt Insurance company	20,000.00
Management company	20,000.00
Holding company	20,000.00
Qualifying Insurance company	20,000.00

Registration fees are due and payable on the thirty first day of January in each year. Failure to pay the fee within 28 days after the fee becomes due and payable, will result in the payment of a penalty which is equal to the fee.