The Mauritius Financial Services Commission has amended its administrative penalties framework to introduce a new daily penalty for failing to meet a deadline to issue motor claim payment instructions. The amendment adds to the Schedule of the Financial Services (Administrative Penalties) Rules 2013 a penalty of MUR 5,000 for each business day of non-compliance with the obligation under Rule 12(7) of the Insurance (National Insurance Claims Database) Rules 2025 to send instructions for payment of a motor claim within the prescribed deadline. The amended rules enter into operation on 22 September 2025.
Mauritius Financial Services Commission 2025-09-03
Mauritius Financial Services Commission sets MUR 5,000 per business day penalty for late motor claim payment instructions
The Mauritius Financial Services Commission has amended its administrative penalties framework to introduce a daily penalty of MUR 5,000 for failing to issue motor claim payment instructions by the deadline. This amendment to the Financial Services (Administrative Penalties) Rules 2013 will take effect on 22 September 2025.