Office of Insurance Commissioner

OFFICE OF INSURANCE COMMISSIONER
Department of Treasury
General (Non-Life) Insurance Regulator
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Welcome to Office of Insurance Commissioner

The Office of Insurance Commissioner (OIC) was established by an Act of Parliament in 1974. That Act was repealed and replaced by the Insurance Act 1994 (the Act). The Act defines the statutory functions and responsibilities of the OIC.

The OIC is an independent Office under the Ministry of Treasury and reports directly to the Minister. For administrative purposes the OIC reports to the Department of Treasury.

The OIC is a member of the International Association of Insurance Supervisors (IAIS). “The IAIS represents insurance regulators and supervisors in more than 140 countries. Its objectives are to promote global supervision of the insurance industry to develop and maintain fair, safe and stable insurance markets for the benefit and protection of policyholders and to contribute to global financial stability.”

Parlarment Haus,where the Insurance Act was passed

What we do...

The Office of Insurance commissioner is mandated to regulate and supervise the General (Non-Life) Insurance Industry in Papua New Guinea in accordance with the Insurance Act 1995.

QUICK LINKS

Licensing Requirments can be found here

Yearly Anual Reports

Regulatory Inforamtions

OIC Office Location
Here is the physical location of where the office of insurance commissioner is located.Its in the level 1,ADF haus.
Treasury Building
This is the Physical location of the Department of Treasury which office of insurance commissioner comes under.
Parliament Haus
This is the Nation Parliament of PNG where the Insurance Act 1995 bill was passed.
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