Regulatory Alerts2022-08-21
Added · Updated
Circular on Insurance Agents and Brokers Commissions
The Central Bank of Jordan mandates that insurance agents and brokers must not receive commissions exceeding 5% of the premium for mandatory vehicle insurance policies. This 5% cap applies to all mandatory insurance contracts, including the mandatory portion of comprehensive vehicle insurance contracts. The directive enforces compliance with Decision No. (20) of 2010 and warns of legal measures against violators.
Topics
Share