The Chairman of the Board of Directors of the Insurance Authority, having perused:
- The Federal Law No. (6) of 2007 concerning the Establishment of the Insurance Authority and Organization of its Operations, as amended and its Implementing Regulations;
- The Board of Directors Resolution No. (25) of 2014 concerning the Financial Regulations for Insurance Companies;
- And on the Board of Directors Resolution No. (26) of 2014 concerning the Financial Regulations for Takaful Insurance Companies;
- The Board of Directors Resolution No. (3) of 2010 concerning the Rules of Practice and Ethics to be followed by the insurance companies operating in the State; and
- Based on the recommendation of the Director General of the Authority, and the approval of the Board of Directors,
Has resolved:
Article (1)
Insurance companies that transact the business of property and liability insurance as detailed in Article (5) of the Implementing Regulations No. (2) of 2009 of the Federal Law No. (6) of 2007 concerning the Establishment of the Insurance Authority and Orga...