The Insurance Act, 2005 - Bahamas Financial Services Board

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being suitably qualified to act as an
auditor by reason of his knowledge and
experience;
“beneficiary” means the person named in a
life insurance policy to receive the
insurance proceeds upon the death of the
policyholder or upon the maturity of an
endowment;
“broker” means a body corporate which acting
with complete freedom as to their choice
of undertaking and for commission or
other compensation bring together, with
a view to the insurance or reinsurance
of risks, persons seeking insurance or
reinsurance and insurance or reinsurance
undertakings, carry out work preparatory
to the conclusion of contracts of
insurance or reinsurance, and where
appropriate, assist in the
administration and performance of such
contracts;
“carry on insurance business in The Bahamas”
, and its derivatives, includes -
(a) opening or maintaining a place of
business or an office, or
appointing or using a
representative in The Bahamas,
whether or not insurance business
is being arranged in or from The
Bahamas;
(b) the use in The Bahamas of any
business description or business