Singapore legislation
Regulation 2
Regulation 2
Definitions
Subregulation 1
In these Regulations, unless the context otherwise requires —
Definition
“ad hoc services” means any of the following services requested by a direct life insurer and provided by the Authority, or specified person, in relation to the web aggregator:
effecting changes to policy information published on the web aggregator;
publishing new policy information on the web aggregator;
removing any policy information published on the web aggregator;
performing any other services in relation to the direct life insurer’s policy information on, or usage of, the web aggregator;
Definition
“direct life insurer” means a direct insurer licensed under section 8 of the Act to carry on life business;
Definition
“policy information” means any information relating to a policy which may assist a person in the purchase of the policy;
Definition
“specified person” means a person specified for the purposes of section 33A(1) of the Act;
Definition
“web aggregator” means the Internet portal known as compareFIRST, which is created, developed and operated under section 33A(8) of the Act.
Subregulation 2
For the purposes of these Regulations, a direct life insurer —
participates in the web aggregator if policy information provided by the direct life insurer to the Authority, or to a specified person, for the purposes of publication on the web aggregator is published on the web aggregator; and
leaves the web aggregator if all policy information provided by the direct life insurer for the purposes of publication on the web aggregator is removed from the web aggregator.