Section 10: Appointment of Commissioner for Insurance.

(1) There shall be for the Commission, a Commissioner for Insurance (in this Act referred to as "the Commissioner") who shall be appointed by the President.
(2) A person shall not be qualified for appointment as the Commissioner unless he has-
(a) a recognised professional qualification in insurance or related course;
(b)
not less than 15 years post-qualification experience in the insurance industry.
(3) The Commissioner shall-
(a) be the chief executive of the Commission; and
(b) be responsible for-
(i) the execution of the policies of the Commission as formulated by the Board;
(ii) the day-to-day administration of the Commission; and
(c) hold office for a period of four years in the first instance and may be reappointed for a further period of four years and no more, and on such other terms and conditions, including emoluments and allowances, as may be specified in his letter of appointment.