Licence Requirement for Conducting Insurance Business 

Press Release

The public is advised that insurance is a regulated business sector in Belize, as such all persons conducting insurance business from or within Belize must first obtain an insurance licence from the Supervisor of Insurance.

Persons licensed to conduct insurance business are provided with a license certificate indicating the name of the licensee, category of licence, licence period, and classes of insurance business for which approval has been given.  This licence certificate must be prominently displayed at the business establishment. In addition to the licence certificate, individual insurance agents and sub-agents are issued on Intermediary Card. This Intermediary Card must be shown to prospective policyholders and policyholders upon simple request. Information on licensed persons can be found at www.osipp.gov.bz

Persons conducting insurance business without a license commit an offence under the Insurance Act and can be sanctioned administratively and summarily.

The public is therefore advised to ensure that they conduct business with only licensed persons and to report persons operating without a licence to the Supervisor of Insurance at:

Office of the Supervisor of Insurance and Private Pensions

#2 Toucan Street, Belmopan

Phone: 822-3808

Email: osipp@mof.gov.bz

Learn more about the Office of the Supervisor of Insurance: www.osipp.gov.bz

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