Insurance - Senior Management Functions Chief Underwriting Officer

Application provision

9.1 This Chapter applies only to firms that carry on general insurance business and to managing agents.

9.1

07/03/2016

This Chapter applies only to firms that carry on general insurance business and to managing agents.

9.2

10/12/2018

The Chief Underwriting Officer function (SMF23) is the function of having responsibility, in respect of the firm’s general insurance business, for the underwriting decisions in respect of material insurance risks that:

  1. (1) in relation to firms that carry on general insurance business, are borne by the firm; or
  2. (2) in relation to managing agents, are borne by members.