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Important Measures

FSC exempts insurance brokers and agents from certain document signing requirements set out in the “Regulations Governing Insurance Brokers” and the “Regulations Governing Insurance Agents”

2020-06-20
Article 34, Paragraph 1 of the “Regulations Governing Insurance Brokers” and Article 34, Paragraph 1 of the “Regulations Governing Insurance Agents” require insurance brokers and agents to sign relevant documents unless the competent authority otherwise exempts them from this requirement. To streamline application processes while at the same time paying due attention to the need to safeguard consumer interests, the FSC on 22 April 2020 expanded the scope of document types that insurance brokers and agents are not required to sign when handling an application for insurance. In addition to the existing list of document types that need not be signed (applications for microinsurance, travel accident insurance that provides for benefits of NT$5 million or less, one-year renewals of personal injury insurance, compulsory auto liability insurance, renewals of residential fire insurance, and mobile device insurance), the amended provisions additionally exempt insurance brokers and agents from signing application documents for comprehensive travel insurance and travel inconvenience insurance.
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  • Update: 2020-06-20
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