In forceAs enactedCurrent version · As enactedSee versions on Singapore Statutes Online(opens the publisher’s site)
Insurance (General Provisions and Exemptions for Marine Mutual Insurers) Regulations 2018 · As enacted · Part 1 · Preliminary
2. Definition
Feedback & supportIn these Regulations, unless the context otherwise requires, “GSIF amount”, in relation to an insurance fund that relates to Singapore policies, means the highest of the following amounts:
(a)
$400,000;
(b)
20% of net premiums written of the fund in the preceding financial year;
(c)
20% of claim liabilities (net of reinsurance) of the fund as at the end of the preceding financial year.