Circular #15
- 29 Oct 2004 -

Insurance Board of Sri Lanka hereby requests all the Insurance Brokers to make available to the IBSL their Applications for the Renewal of Registration as required under the Act along with all relevant documents not less than 45 days prior to the date from which such renewal is required.

The Professional Indemnity Policies that are submitted along with the Renewal Application as required under section 85(3) of the RII Act should not have an excess or a deductible in an amount which exceeds 2.5 per centum of the minimum limit of indemnity in terms of section 85(4) of the Act.

Application for the Renewal of Registration could be obtained from the Insurance Board of Sri Lanka or could be down loaded from the IBSL Web Site: www.ibsl.gov.lk.

Insurance Brokers who fail to renew the Registration prior to the expiry date, will be prohibited from engaging in insurance broking business thereafter, in terms of the Act.

Lasinee Seresinhe
Office in Charge
LSAS/kp