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  • Chapter I General Provisions

    • Article 2

      1. The provisions of these Regulations shall apply to all Insurance Brokers operating in the UAE.
         
      2. No one may practice the Insurance Brokerage activity in the UAE without obtaining a license from the IA. Such license shall be renewed annually in accordance with the provisions of these Regulations.

    • Article 3

      1. An Insurance Broker may combine brokerage business in personal insurances and funds accumulation operations on the one hand, and brokerage of property and liability insurance on the other hand, provided that both classes of business are completely separated in terms of books and records or personnel working in each class.
         
      2. An Insurance Broker may be specialized in any one of insurance types or insurance classes.
         
      3. An Insurance Broker may not combine their role as an insurance broker on the one hand and the role of an insurance agent, insurance consultant, surveyor and loss adjuster, or actuary on the other hand.
         
      4. An Insurance Broker may combine the Insurance Brokerage business in accordance with the provisions of these Regulations and the re-insurance brokerage business, subject to not combining both roles (insurance broker and re-insurance broker) for the same transaction and for the same party he works for.
         
      5. An Insurance Broker may not be partner or agent of any other Insurance Broker.