ARB Premium Payment Rules (APPR) Reminder

Effective 1 March 2024, all premiums of general insurance policies placed by agents registered with the Agents' Registration Board (ARB) are to be paid directly from customers to the insurers.

There are 2 exceptions where agents can collect premiums from customers:
1) approved bundled insurance sales
2) approved affinity insurance billing

All agents and customers are advised to take note of this regulation during transactions.

To find out more, please refer to this video (link opens in YouTube) and infographic by General Insurance Association (GIA).