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CCWG has reviewed the Non Life Contract Certainty checklist that is recommended on the portal and adapted it to reflect slips in Singapore as opposed those in other markets.

Fundamentally, the concept of a subscription market is in its infancy in Singapore and as a result, we have moved those questions relating to a subscription agreement to the end. As a result these questions can be ignored unless a subscription agreement is involved.

The checklist is now divided into three parts headed Risk Details, Other Requirements and Subscription Agreements:
1. Risk Details – Whilst slip presentation varies, the Risk Details are now placed in an order you might expect to see them on a slip
2. Other Requirements – These include those items of the checklist which can be standardised
3. Subscription Agreements – Only need to be completed if it is a subscription contract.

The item about taxes being collected by the reinsured and payable by the reinsurer has been removed as this does not appear to happen in Asia and it creates confusion with a more standard β€œare taxes payable by the reinsured clearly stated?".

  • Download Non-Life Reinsurance Contract Certainty Checklist

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