Regulatory Alerts2018-01-01
Decision of the Chairman of the Authority No. (1008) of 2018
The Chairman of the General Authority for Financial Supervision issued Decision No. (1008) of 2018 to amend regulatory frameworks for digital insurance operations and advertising oversight. The decision adds two paragraphs to Article 5 of Decision No. 805 of 2016, mandating prior regulatory approval for any licensed entity offering insurance services via websites or mobile applications, and assigning a committee the responsibility to review and verify all insurance brokerage advertising materials. It simultaneously repeals Decision No. 632 of 2017 regarding the advertising review committee's composition and stipulates that the decision takes effect the day after its publication in the Official Gazette and on the Authority's website.
Share