Regulatory Alerts2019-10-15
Administrative Decision No. 140 of 2019 Excluding Certain Insurance Policies from Arabic Language Requirement
The Director General of the Insurance Authority issued Administrative Decision No. 140 of 2019 to exempt specific insurance policies, such as marine, aviation, and international types, from the mandatory Arabic language requirement. The decision mandates that insurance companies submit electronic licensing applications for new products, including bilingual policy documents and actuarial certificates, while also requiring compliance officer certifications regarding anti-money laundering risks. This regulation came into force on the day following its issuance on October 14, 2019, in Abu Dhabi.
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