Singapore legislation
Regulation 27
Regulation 27
Responsibilities of Board on risk management
The Board of a Tier 2 insurer shall be responsible for overseeing —
(a)
the establishment and the operation of an independent risk management system for managing risks on an enterprise‑wide basis; and
(b)
the adequacy of the risk management function of the Tier 2 insurer, including ensuring that it is sufficiently resourced to monitor risk by the various risk categories and that it has appropriate independent reporting lines.