Insurance Newsletter – Issue No. 8

MFSA: Guidelines on Payment of Application Fees, Supervisory Fees or Penalties using the Bill Payment Facility – Applicable to BOV Customers

The MFSA is introducing a BOV Bill payment facility with the aim of facilitating the processing of application fees, supervisory fees, or penalty payments through digital banking. This enhancement is envisaged to ensure that Authorised Persons receive corresponding receipts allocated against actual fees due, more punctually and efficiently.

Further improvements will be implemented in the near future to extend this facility to other banks.

The Guidelines can be accessed here

EIOPA: Methodology for the Value for money in the unit-linked market