means a person appointed under section 61;

means a person who—

• (a)as representative of an insurer, carries on the business of channeling, soliciting, or procuring insurance business for the insurer for or in expectation of payment by way of commission, allowance, return or other remuneration; and
• (b)is licensed under section 43(1) to carry on such business;

means the date appointed under section 1 for the coming into force of this Act;

means a person appointed under section 52;

means an authority given by an insurer to an insurance intermediary—

• (a)to enter into, as agent for the insurer, contracts of insurance on behalf of the insurer as insurer; or
• (b)to deal with and settle, as agent for the insurer, claims against the insurer as insurer,

but does not include an authority of a kind referred to in paragraph (a) that is limited to effecting contracts of insurance, or contracts of insurance in a particular class, by way of interim cover;

means a person who—

• (a)as representative of an insured, carries on the business of arranging contracts of insurance for or in expectation of payment by way of brokerage, commission, fee, allowance, return or otherwise; and
• (b)is licensed under section 43(1) to carry on such business;

means a specific type of insurance business such as, but not limited to, fire insurance business, motor insurance business or term life insurance business;

means a contract of insurance which is by its terms to be of more than one year’s duration and under which a benefit is payable in the event of the occurrence, within the duration of the contract, of—

• (a)death by accident, or by some other cause specified in the contract, of the person whose life is insured (“the insured”);
• (b)injury or disability of the insured caused by accident or sickness; or
• (c)the insured being found to have a specified condition or disease;

means a person appointed under section 82;

means any person occupying the position of a director of a body corporate, by whatever name he or she is called, and includes a member of a local board of a body corporate whose head office is situated outside Fiji;

means in relation to a company, its issued share capital, excluding any part thereof which, neither as respects dividends nor as respects capital, carries any right to participate beyond a specified amount in a distribution;

and Fiji insurance business means any insurance business where the subject matter of the business is situated in Fiji or in respect of which premiums are ordinarily payable in Fiji and includes—

• (a)property that at the time of making the contract of insurance is in Fiji or in transit to or from Fiji;
• (b)the life, safety, fidelity or insurable interest of an individual who at the time of making the contract of insurance is ordinarily resident in Fiji;
• (c)insurance business in respect of any vessel, hovercraft or aircraft registered or ordinarily located in Fiji; and
• (d)insurance business wherever conducted by an insurer licensed under this Act where the liability in respect of that business accrues to that insurer;

means a person who is a citizen of the State;

means securities charged on the revenue of the Government or guaranteed fully as regards principal and interest by the Government;

means insurance business of any class or classes not being life insurance business;

means a policy in respect of which the premiums are contracted to be paid at regular intervals of less than 2 months and the insurer expressly or tacitly undertakes to send a person to the insured or to the insured’s residence or place of work to collect the premium;

means a person appointed under section 73;

means—

• (a)the business of undertaking liability by way of insurance, including reinsurance, in respect of a life, or any loss or damage, including liability to pay damages or compensation, contingent upon the happening of a specified event; and
• (b)business relating to the continuance, renewal or revival of the business referred to in paragraph (a),

and includes business incidental to the business referred to in paragraph (a) or (b);

means a person who is insured, or who intends to become insured, under this Act;

means a body corporate licensed under section 25(1) to commence or carry on insurance business and includes a reinsurer;

means an agent or broker;

means any benefits payable under an investment-linked contract;

means any individual policy which provides for life insurance where the policy value at any time varies according to the value of the underlying assets at the time;

means business that consists of the issuing of life policies or the undertaking of liability under life policies or any business that relates to the business of issuing life policies, including business relating to the investment, administration and management of the assets of a statutory fund;

means, subject to subsection (2), any policy that provides for the payment of money on the death of a person (otherwise than by way of personal accident, disease or sickness only) or on the happening of a contingency dependent on the termination or continuance of human life, and includes—

• (a)a policy which is subject to payment of premiums for a term dependent on the termination or continuance of human life;
• (b)a policy securing the grant of an annuity for such a term;
• (c)a continuous disability policy; and
• (d)an investment-linked contract;

means the Minister for the time being responsible for the administration of this Act;

means the total liability provision for claims reduced by reinsurance recoveries on such claims;

means the gross premium paid by the insured after deduction of return premiums, reinsurance outwards premiums, stamp duty and other statutory charges;

means a life policy not conferring any right to share in the profits or surplus arising from the business of the insurer or any part of it;

means life insurance business being business of, or in relation to, the issuing of or the undertaking of liability under policies of insurance upon human life, or the granting of annuities upon human life, but excludes industrial life business;

means a policy by the terms of which the owner of the policy is entitled to a share in surpluses or profits which may be distributed by the insurer, and participating business is to be construed accordingly;

includes—

• (a)in relation to ordinary life insurance business or industrial life insurance business, an instrument evidencing a contract to pay an annuity upon human life;
• (b)in relation to bond investment business, a bond, certificate, receipt or other instrument evidencing the contract with the insurer; and
• (c)in relation to other classes of insurance business, any instrument under which there is for the time being an existing liability already accrued or under which any liability may accrue;

includes an instalment of premium;

means prescribed by regulations made under section 169;

means an officer appointed under section 18;

includes a book, account, register, statement, abstract and document, however compiled, recorded or stored;

means the business of undertaking liability to pay money to insurers or reinsurers in respect of liabilities incurred by insurers or reinsurers on the basis of policies of insurance or reinsurance;

means any body corporate which commences or carries on reinsurance business;

means the Reserve Bank of Fiji established by the Reserve Bank of Fiji Act 1983;

means a fund established under section 111; and

means a type of insurance business whereby the insurer promises to pay the agreed amount of cover as stipulated in the policy if the insured dies during a period specified in the policy, but if the insured survives the period the contract expires without value.