IC CIRCULAR LETTER NO. 12-99-CL, April 16, 1999

[ IC CIRCULAR LETTER NO. 12-99-CL, April 16, 1999 ]

LIMITED AUTHORITY TO SOLICIT FIRE AND MOTOR CAR INSURANCE

Please be advised that a limited authority may upon application therefor, be issued to persons intending to solicit fire and motor car insurance, even without first passing the qualifying examination required under Section 303 of the Insurance Code, as set forth hereunder:

The limited authority shall be issued only upon submission by the non-life insurance company concerned of a syllabus for a training course on fire and motor car insurance intended for the purpose and a certification that a given applicant has undergone the said training course; and that

Said limited authority shall, further, be subject to the condition that the applicant to whom it has been issued shall, within one (1) year from issuance thereof, be able to pass the required qualifying examination and secure the appropriate certificate of authority from this Commission; otherwise, it shall be deemed suspended and shall remain so until the applicant shall have qualified accordingly.

This Circular takes effect immediately.

Adopted: 16 April 1999

(SGD.) EDUARDO T. MALINIS Insurance Commission