The Insurance Outsourcing Directive authorizes FSB to regulate outsourcing of insurance business.
In accordance with the Long-term Insurance Act, 1988 (Act 52 of 1988) and the Short-term Insurance Act, 1988 (Act 53 of 1988), the Financial Services Board (FSB) of South Africa issued Directive 159.A.i (Insurance Outsourcing Directive) to regulate business outsourcing of insurance companies. The Insurance Outsourcing Directive authorizes FSB to regulate outsourcing of insurance business.