Advantage General insurance requirement

Insurance company, Advantage General Insurance has sought to clarify the reason behind questioning clients about their financial status prior to offering a policy.



The insurance company said the move is part of the rules set out by the Financial Services Commission (FSC) under the Proceeds of Crime Act and the Money Laundering Prevention Regulation for 2007.



Senior Branch Manager at the Montego Bay Branch, Margaret Harvey Williams, said Advantage General has been ensuring that all persons seeking a policy provide the relevant information on their financial status.



Mrs. Harvey Williams said it is important that insurance company practice more due diligence in covering all the relevant information about customers, which could adversely affect the organisation.