The Bahamas Insurance Association Issues New Onboarding Requirements for General Insurance

August 13, 2020

The Bahamas Insurance Association Issues New Onboarding Requirements for General Insurance

NASSAU, BAHAMAS, August 27, 2020 – The Bahamas Insurance Association (BIA), in accordance with the guidelines of the Insurance Commission of The Bahamas, has issued new Customer Due Diligence (CDD) and Know Your Customer (KYC) requirements. Effective September 1, 2020, Bahamas First, like all general insurers, agents and brokers in The Bahamas, is mandated to obtain pertinent information from our policyholders to comply with these new requirements, including, but not limited to a new KYC form, specified photo identification and company documents(if applicable).

View the full statement on the BIA website