Regulatory Alerts2021-09-26
Added · Updated
Central Bank of Jordan Circular on Disclosure of Commissions and Fees by Insurance Companies and Service Providers
The Central Bank of Jordan mandates that insurance companies and insurance service providers disclose all commissions or fees associated with services to their clients, regardless of whether these costs are borne by the client or the insurer. This requirement is issued under Article 83(b) of the Insurance Activities Regulation Law No. 12 of 2021. The circular warns that legal measures will be taken against entities found in violation of this disclosure obligation.
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