Can designated insurers remove any terms in the prescribed compulsory terms for WIC insurance?
No, insurers must not remove or substitute any terms in the compulsory terms. Insurers must include the compulsory terms in the approved policy exactly as prescribed.
Slight variations that don’t affect the substance or coverage of the compulsory terms (e.g. style, font, formatting) are allowed.
This information is sourced from MOM
Related questions
Can designated insurers insert other terms that are not in the prescribed compulsory terms for WIC insurance?
Can an insurer voluntarily align with the compulsory terms for a WIC insurance policy that started before 1 January 2021?
Can insurers issue a WIC insurance policy in 2020 that starts from 1 January 2021?
Do WIC designated insurers need to provide the proposal to the policy holder?
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