In terms of the Regulation of Insurance Industry Act No. 43 of 2000 only an "individual" can function as an "agent"

Having examined various representations made in this regard and the systems in selected countries, the Insurance Board of Sri Lanka (IBSL) is currently considering the feasibility of broadening the category by permitting either a "person" or a "licensed bank" to function as an agent.
The IBSL wishes to solicit observations/comments / views of Insurers, Insurance Brokers, Agents, policy-holders and the public with regard to the desirability of such an amendment.
Comments may be sent to the IBSL Secretariat on or before 13 August 2001.

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