The Chairman of the Board of Directors of the Insurance Authority,

Having pursued;

- Federal Law No. (1) of 2006 concerning Electronic Transactions and Commerce;
- 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 Regulations;
- Decretal Federal Law No. (14) of 2018 Concerning the Central Bank & Organization of Financial Institutions and Activities;
- Insurance Authority Board of Directors’ Decision No. (13) of 2018, Instructions Concerning Marketing Insurance Policies through Banks;
- And, based on the proposal of the Director General of the Insurance Authority and the approval of the Insurance Authority's Board of Directors,

Has decided:
 

Article (1)

To amend Paragraph No. (2) of Article (5) to read as follows:
“To acquire practical training for a period of (30) hours at any insurance company in the same insurance products he is going to market.”
 

Article (2)

Article No. (9) of Board’s Decision No. (13) of 2018 shall be cancelled and replaced by the following text:

“The Insurance Company shall have a point of sales in the Emirate where the Bank is marketing its insurance policies or shall have electronic services that enable customers to communicate with the company to receive their feedback, inquiries and complaints, within the following conditions:

1. Providing the service of communication with the company through telephone, website or through an electronic application that can be downloaded on smartphones.
2. Easiness to use website or application.
3. Responding to customer complaints and inquiries within one day.
4. The electronic services shall be in Arabic and at least one other language.
5. The company shall maintain a special record inside it showing the details of complaints, inquiries and the results.”
    

Article (3)

The period granted to insurance companies to rectify their status, at the time the Board of Directors’ Decision No. (13) of 2018 entered into force, shall be extended, in accordance with the provisions contained therein for an additional period of (six months) as from the effective date of this Decision.
 

Article (4)

The companies practicing the marketing of insurance policies through banks shall rectify their status in accordance with the provisions of this Decision.
 

Article (5)

The provisions of this Decision shall come into force from the date of its issuance and shall be published in the Official Gazette.