Kuwait – Health insurance not licensed under life
Monday, 06 12 2017, Category: Insurance and Reinsurance, Country: Kuwait
Informed sources told “Al Rai” that Mr. Abdullah Owaisi, Under Secretary, Ministry of Commerce & Industry for commercial licensing affairs canceled a decision issued by the Insurance Regulator that would have created a crisis between the ministry and insurance companies.
In detail, the sources mentioned that the insurance department addressed some insurance companies with the memo No (15197) in order to include health insurance under the life insurance license starting from the beginning of year 2018.
The ministry clarified that under the mentioned canceled decision every life insurance license would include a health insurance license whereas the companies that do not have life insurance but have health insurance would have to stop business until the end of this year.
Source: Al Rai