Regulatory Alerts2019-09-16
Supervisory Rules for the Experimental Environment of Financial Technology in the Insurance Industry
The Insurance Authority of the UAE issued Decision No. (41) of 2019 to establish a regulatory framework for testing innovative financial technology solutions within the insurance sector. The rules define eligibility criteria, application procedures, and participant categories while granting the Director General authority to exempt applicants from certain mandatory requirements during the pilot phase. Strict conditions regarding customer protection, risk management, and monthly reporting are imposed to ensure safety and compliance throughout the experimental environment.
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