Further to the Circular Letter dated February 3, 1984 of this Commission on the above-captioned subject, it is hereby advised that the minimum requirement for consideration of an application for placement of risks other than Marine Hull, Aviation and Money, Securities, Payroll & Robbery is revised as follows:

"The subject risk must be offered to at least 15 local direct writing companies, 3 foreign authorized companies and 2 professional reinsurance companies".

Money, Securities, Payroll & Robbery Risks shall be included in the guidelines established for Marine Hull & Aviation risks as contained under IC Circular Letter dated October 18, 1984.

All other provisions of the guidelines shall remain unchanged.

Please be guided accordingly.

Adopted: 29 May 1992