The Office of Supervisor of Insurance & Private Pensions (OSIPP) is a Department of the Ministry of Finance.
The Principal role: To protect the interest of the public, whether as a consumer or third party. This is done through the monitoring of insurance entities and pension administrators to ensure financial stability and use of fair business practices while carrying out their business operations. These roles and responsibilities are acquired through the Insurance Act, International Insurance Act and Private Pensions Act with their respective Regulations.
Critical functions and responsibilities are also assigned under the Motor Vehicle Insurance (Third Party Risks) Act and the Money Laundering & Terrorism (Prevention) Act.