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.