Insurance Act 1966 · 2020 Revised Edition · Part 2B · Insurance Intermediaries
84. Permission to negotiate and place risk with unlicensed insurer
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Where in any particular case the Authority is satisfied that, by reason of the exceptional nature of the risk or other exceptional circumstances, it is not reasonably practicable to comply with section 83, the Authority may permit any registered insurance broker —
to negotiate the contract of insurance with such insurer as the insurance broker sees fit; and
if in the opinion of the Authority the case requires it, to effect the contract of insurance and receive the premium in Singapore on behalf of such insurer.
Where the Authority has, under section 23(5) of the Insurance Intermediaries Act (Cap. 142A, 2000 Revised Edition) in force before 1 October 2002, granted any registered insurance broker permission to negotiate with any unlicensed insurer as the insurance broker sees fit and, if the case requires it, to effect the contract of insurance and receive the premium in Singapore on behalf of the insurer, the permission continues in force as if granted by the Authority under subsection (1).[35ZF
registered insurance broker
“registered insurance broker” means an insurance broker who is for the time being registered under section 76;