Insurance Regulatory Authority definition

Insurance Regulatory Authority means, with respect to any Insurance Subsidiary, the insurance department or similar Governmental Authority charged with regulating insurance companies or insurance holding companies, in its jurisdiction of domicile and, to the extent that it has regulatory authority over such Insurance Subsidiary, in each other jurisdiction in which such Insurance Subsidiary conducts business or is licensed to conduct business.

Insurance Regulatory Authority means, with respect to any Insurance Subsidiary, the governmental or regulatory authority or agency charged with regulating the insurance business of insurance companies or insurance holding companies, in its jurisdiction of legal domicile.

Insurance Regulatory Authority means, when used with respect to any Insurance Subsidiary, (x) the insurance department or similar administrative authority or agency located in each state or jurisdiction (foreign or domestic) in which such Insurance Subsidiary is domiciled or (y) to the extent asserting or having regulatory jurisdiction over such Insurance Subsidiary, the insurance department, authority or agency in each state or jurisdiction (foreign or domestic) in which such Insurance Subsidiary is licensed, and shall include any Federal or national insurance regulatory department, authority or agency that may be created and that asserts or has regulatory jurisdiction over such Insurance Subsidiary.

Examples of Insurance Regulatory Authority in a sentence

• Only Insurance service providers registered by Insurance Regulatory Authority are eligible to tender and sign contracts.

• The Insurance Act of Kenya (Revised 2017) requires that insurance companies that wish to offer insurance services in Kenya should be registered with the Insurance Regulatory Authority (IRA) of Kenya to allow them undertake insurance business in Kenya.

• If a Tender Security is specified pursuant to ITT19.1, the Tender Security shall be a demand guarantee in any of the following forms at the Tenderer's option: i) cash; ii) a bank guarantee; iii) a guarantee by an insurance company registered and licensed by the Insurance Regulatory Authority listed by the Authority; or iv) A guarantee issued by a financial institution approved and licensed by the Central Bank of Kenya, from a reputable source, and an eligible country.

• Copies of:-i) Certificate of Registration under the companies Act (CAP 486) ii) Copy of Registration with the Insurance Regulatory Authority (current) iii) valid tax compliance certificate iv) Audited Accounts for the last three yearsv) Properly filled Confidential Business Questionnaire2.12.1Particulars of tender security if applicable.Kshs 200,000.00 valid for at least (150) days after the date of tender opening.2.12.4Form of Tender Security.

• The tender security shall be in the form of;(a) Cash (b) a bank guarantee (c) a guarantee by an insurance company registered and licensed by an insurance company registered and licensed by the Insurance Regulatory Authority (IRA) listed by the Authority; or (d) a guarantee issued by afinancial institution approved and licensed by the Central Bank of Kenya (CBK).

More Definitions of Insurance Regulatory Authority

Insurance Regulatory Authority means, for the Borrower or any Insurance Subsidiary, the insurance department or similar administrative authority or agency located in the state in which the Borrower or such Insurance Subsidiary is domiciled.

Insurance Regulatory Authority means the insurance regulatory authority of a Jurisdiction;

Insurance Regulatory Authority means, for the Borrower or any Insurance Subsidiary, (a) the insurance department or similar administrative authority or agency located in the state or other jurisdiction in which the Borrower or such Insurance Subsidiary is domiciled; and (b) if the Borrower or such Insurance Subsidiary is a member of a syndicate at Lloyd’s, the Society and Corporation of Lloyd’s.

Insurance Regulatory Authority means, for any Insurance Subsidiary, the insurance department or similar administrative authority or agency located in the state or other jurisdiction in which such Insurance Subsidiary is domiciled (including “commercially domiciled” as that term is defined under relevant state law), including, for the avoidance of doubt, the Society and Corporation of Lloyd’s.

Insurance Regulatory Authority means, with respect to any Domestic Insurance Subsidiary, the Governmental Authority of such Domestic Insurance Subsidiary's state of domicile with whom such Domestic Insurance Subsidiary is required to file its annual financial statement prepared in accordance with SAP.

Insurance Regulatory Authority means any Federal, state, local or foreign governmental or regulatory authority, agency, commission, department, body, court or other legislative, executive, or judicial or quasi-judicial governmental entity responsible for the regulation of the business of insurance.

Insurance Regulatory Authority means, with respect to any Regulated Subsidiary, the insurance department or similar Governmental Authority charged with regulating insurance companies or insurance holding companies, in its jurisdiction of domicile and, to the extent that it has regulatory authority over such Regulated Subsidiary, in each other jurisdiction in which such Regulated Subsidiary conducts business or is licensed to conduct business.