House regulations committee adopts fix to restore motor vehicle insurance class in fee schedule

The Regulations Committee of the House of Representatives met on June 23, 2026 at Gordon House to consider a technical correction to insurance fee rules under the Insurance Act.

After opening prayers led by Member Maurice, the committee noted apologies from Members Crawford, Hamilton and Buchanan. Chairman welcomed members and moved the agenda past the minutes so the substantive item could be taken first.

Item seven on the order paper was the Insurance (Amendment of the Twentieth Schedule) (No. 2) Regulations, 2026. A team leader appearing with colleagues from the Financial Services Commission and the Ministry of Finance told the committee that the regulations replace the previous twentieth schedule in the Insurance Regulations, 2001. They introduce revised and new initial fees and a new method for calculating annual fees for life and general insurance business.

During a recent review, officials found an inadvertent drafting error. In the column listing classes of insurance business, the second and third entries from the bottom were wrongly repeated as accident insurance. Because of that duplication, motor vehicle insurance was left out of the schedule.

The amendment now before the committee removes the first mistaken accident insurance entry and inserts motor vehicle insurance, as originally intended. Under the regulations already reviewed by the committee, both motor vehicle and accident insurance carry a fee of one hundred thousand dollars for Jamaican and CARICOM companies and for foreign companies. No change to those prescribed fees is required.

The correction restores motor vehicle insurance to the schedule and keeps the fee structure the committee had already approved. Colonel Borrell, who led the briefing, described the matter as straightforward. With no objections from members, the committee adopted the resolution.

The panel then returned to item five and confirmed the minutes of the April 16, 2026 meeting, moved by Member Williams and seconded by Member Morris. There was no other business. The date of the next sitting will be set by referral from the House. A report on the meeting will be prepared for tabling in Parliament. The sitting was adjourned on a motion from Member Murray, seconded by Member Powell.