OIC requires that life and non-life

OIC requires that life and non-life insurance companies have operations based on the principle of Good Corporate Governance - provide operating systems and internal controls appropriate and effective, define guideline regarding rights, role, duty and responsibility of interested person, provide monitoring systems to check and balance as well as to determine appropriate compensations, to reduce conflicts of interests which are major factors that affect life and non-life insurance companies stability and enhancement the insurance system. Therefore, OIC has issued this Notification for the insurance companies to use as guideline.