Office of Insurance Commissioner

OFFICE OF INSURANCE COMMISSIONER
Department of Treasury
General (Non-Life) Insurance Regulator
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Legislation prescribing OIC’s powers in respect of the authorization and prudential supervision of  insurers.

The objects and functions of the OIC shall be to;

  • Ensure the effective administration, supervision, regulation and control of insurance and reinsurance business in Papua New Guinea
  • Formulate and enforce standards for the conduct of insurance and reinsurance business in Papua New Guinea
  • License all persons involved in or connected with insurance business, including insurance and reinsurance companies, insurance and reinsurance intermediaries, loss adjusters and assessors, risk surveyors and valuers
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