Kuwait – Call to establish Insurance Authority
Saturday, 01 20 2018, Category: Insurance and Reinsurance, Country: Kuwait
The member of parliament Mr. Askar Al-Enezi submitted a proposal to establish and insurance regulatory and supervisory authority in Kuwait.
He also defined the domains and scope of action for the new regulatory and the regulations that would apply on companies.
He also said that that such an authority should issue executive regulations, objectives and regulatory procedures. It should also protect the rights of policyholders by enforcing the prompt payment of claims.
Source: Al Qabas