Regulation 9

A Service Company must obtain the approval of the Authority before the Service Company, or any coverholder authorised by the Service Company, begins to introduce into Singapore any policy referred to in paragraph (2) on behalf of any member of Lloyd’s for whom the Service Company is approved under regulation 6A(1) to enter into any contract of insurance.

Paragraph (1) applies to any policy for general business which insures any risk of a nature that has not been previously underwritten in the Singapore insurance market.