Regulatory Alerts2025-05-11
Added · Updated
Central Bank of Jordan Instructions on Professional Conduct and Fair Treatment of Insurance Clients 2025
The Central Bank of Jordan issued Instruction No. (5) of 2025, effective April 10, 2025, imposing mandatory professional conduct and client treatment controls on insurance companies. The regulation requires insurers to maintain transparency in product marketing, claims settlement, and contract drafting, while prohibiting unilateral contract modifications and discriminatory pricing. It mandates specific operational deadlines, including a 30-day notice for contract cancellation, a 10-day response window for complaints, and a 90-day alignment period for compliance, with a final deadline of April 30, 2026, for establishing specialized complaint handling units.