Introduction
Choosing the right MAS licensed insurance broker is more than a formality, it’s a safeguard for your company’s financial and operational security. In Singapore, the Monetary Authority of Singapore (MAS) regulates brokers to ensure professionalism, transparency, and compliance with industry standards. Working with a licensed broker such as PCMI means your business gains access to verified insurers, compliant contracts, and expert risk management support. This guide explains what MAS licensing means and why it’s critical for businesses seeking reliable insurance advisory.
1. What Does It Mean to Be a MAS Licensed Insurance Broker?
A MAS licensed insurance broker is authorised under Singapore’s Financial Advisers Act to place insurance with approved insurers and provide advisory services. This means they must meet strict standards for capital adequacy, qualifications, transparency, and compliance. These requirements protect clients from misrepresentation and fraudulent practices.
To understand how licensed brokers operate, explore PCMI’s compliance-driven insurance solutions.
2. Why Businesses Should Avoid Unlicensed Brokers
Unlicensed intermediaries often operate without oversight, exposing businesses to risks such as invalid policies, unpaid claims, and lack of accountability. Partnering only with a MAS licensed insurance broker ensures every transaction meets national regulatory standards. PCMI, with its MAS license since 1985, is a trusted name in Singapore’s insurance advisory sector.
Learn more about PCMI’s role as a licensed insurance broker in Singapore.
3. Benefits of Working with a Licensed Insurance Broker
Partnering with a MAS-approved broker offers several strategic advantages:
• Access to all registered insurers
• Customised risk management and tailored coverage
• Claims advocacy and expert representation
• Global network access, including Lloyd’s Syndicates
Discover how this expertise translates into real-world protection through PCMI’s corporate insurance advisory.
4. How to Verify a Broker’s Licensing Status
You can confirm whether your broker is MAS-licensed by searching the Financial Institutions Directory on the MAS website. When evaluating potential partners, ensure they provide a valid MAS registration number, transparent documentation, and a Singapore-based compliance contact.
For example, PCMI’s MAS licensing demonstrates its long-standing credibility as a trusted Singapore insurance broker.
5. The Importance of Compliance for Business Risk Management
In industries like construction, marine, and logistics, compliance directly impacts claims validity and contract approval. Working with a MAS licensed insurance broker ensures your policies are recognised by auditors, legal teams, and government bodies. Compliance not only prevents penalties but also strengthens your company’s reputation with partners and investors.
Get in touch with PCMI’s advisory team to confirm your current policies meet MAS compliance standards.
Conclusion
In an evolving business landscape, regulatory compliance is key to credibility and continuity. A MAS licensed insurance broker like PCMI ensures your coverage is legally recognised, professionally managed, and competitively priced. Choosing a licensed partner isn’t just about meeting requirements, it’s about securing peace of mind and building resilience for your business’s future.
Frequently Asked Questions (FAQs)
- What is a MAS licensed insurance broker?
It’s an insurance intermediary approved by the Monetary Authority of Singapore to advise clients and place insurance policies legally. - How can I check if my broker is MAS licensed?
You can verify on the official MAS Financial Institutions Directory online. - Why is licensing important for businesses?
It ensures transparency, accountability, and protection under Singapore law. - How long has PCMI been a MAS licensed insurance broker?
PCMI has held its license since 1985, serving Singapore’s corporate and institutional clients. - Can PCMI help audit my company’s insurance compliance?
Yes. Contact PCMI’s advisory team to schedule a compliance and policy review.
