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  • Administrative Decision No. (122) of 2018 Concerning the Conditions that must be Fulfilled in the Designated Officer in Accordance with the Insurance Authority Board of Directors' Decision No (13) of 2018 on the Instructions Concerning Marketing Insurance

    Effective from 29/11/2018

    The Director General of the Insurance Authority;

    Having Pursued:

    - The Federal Law No. (6) of 2007, concerning the Establishment of the Insurance Authority and Organization of Insurance Operations, the amendments thereof and its Executive Regulation;
    - The Federal Decree-Law No. (14) of 2018 Concerning the Central Bank & Organization of Financial Institutions and Activities;
    - The Insurance Authority Board of Directors' Decision No. (13) of 2018 on the Instructions Concerning Marketing Insurance Policies through Banks,

    Has decided;

    • Article (1)

      When appointing the Designated Officer, following minimum conditions must be fulfilled:
       

      First: To complete thirty accredited training hours at one of insurance companies and providing IA with the proof of completing the training.
      Second: To submit certificates of participation in three training courses as set forth in Para (1 or 2) as follows:
      A training Course in any of the programs stated below:

      • Introduction to Insurance
      • Insurance Customer Service.
      • Bancassurance.

      Three different training courses in any of the approved courses in “Maharati” initiative offered by IA or its equivalent. The success requirements must be satisfied the within two years from the date of enrolling in the above mentioned training courses.
      The Insurance Authority shall be provided with the content of the training courses.
      Third: To undergo a continuous training plan provided by the company with respect to the new products that the officer will market.
      Forth: To provide a proof of attending at least fifteen hours of seminars or conferences or workshops in insurance during the past year.

    • Article (2)

      All concerned entities shall implement this decision in their respective areas and the decision shall take effect as from the issuance date.