UAE – 3 Insurance Brokers suspended
Friday, 06 30 2017, Category: Insurance and Reinsurance, Country: U.A.E
The number of “insurance brokers”, which have been suspended by the “Insurance Authority” during the first half of the year reached 3 companies in addition to a fourth company of which the license has been canceled. However, the Authority allowed another company to continue to practice brokerage in the mentioned period.
According to the statements issued by the “Insurance Authority” in the first half, the Authority suspended “Silver Globe Insurance Brokers”, “Addison Bradley”, and “Al Rawda” from brokerage activities during the targeted period as they did not comply with the regulations adopted by the Insurance Authority.
Moreover, the Insurance Authority reauthorized “Addison Bradley” to practice brokerage as it reformed its situation but it canceled the license of the health insurance Third Party Administrator “Advance Care”.
Source: Economic Al Khaleej