Regulatory Alerts2007-01-01
Ordinance No. 026-2007 Amending the Insurance Code
The Military Council for Justice and Democracy of Mauritania issued Ordinance No. 026-2007 to amend, replace, and repeal provisions of the 1993 Insurance Code. The ordinance establishes new rules for war risk exclusions, claim settlement timelines, minimum capital requirements, and the composition and operating procedures of an Advisory Insurance Commission. It further mandates stricter regulatory oversight, including detailed control mechanisms, tariff balancing, and a comprehensive sanctions framework for non-compliant insurance companies.
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