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Article (4) Insurance Agents Register

IA-BOD-RES 8/2011 Effective from 7/4/2011
  1. A register named the Insurance Agents Register shall be prepared in the IA and shall be referred to as (the Register) in these Instructions. All approved Insurance Agents shall be registered in the Register in accordance to the provisions of these Instructions and the resolutions issued pursuant thereto.
     
  2. A page in the Register shall be assigned to each Insurance Agent after accepting his registration where the following data and any amendments thereto shall be recorded:
     
    1. a. Number and date of registration;
       
    2. b. Name of the Insurance Agent;
       
    3. c. The address of his headquarters and branches, if any;
       
    4. d. Name of manager in charge, his nationality and limits of authority;
       
    5. e. Name of the company for which he acts as Agent and the types and classes of insurance licensed to be practiced by him;
       
    6. f. The geographical scope of the agency;

    7. g. Number, date and place of registration in the Commercial Register; and
       
    8. h. Any other data as determined by the Director General.
       
  3. In case the Insurance Agent is a juridical person, the following data shall be recorded in the Register, in addition to the data set forth in Clause 2 of this Article.
     
    1. a. The legal form of the corporate person;
       
    2. b. Value of capital of the corporate person; and
       
    3. c. Names, nationalities and shares of partners;