Regulatory Alerts2019-10-02 | No. 78/2019Health Insurance Rules (No. 78/2019)
The Capital Market Authority of Oman issued Decision No. 78/2019 to establish comprehensive regulatory rules governing health insurance activities and licensed providers. The regulation mandates that insurers obtain CMA licensing, retain at least forty percent of net premiums domestically, and adhere to strict timelines for claims processing, provider payments, and electronic system connectivity. Furthermore, it defines the obligations of all insurance relationship parties, establishes a dedicated disputes settlement committee with appeal mechanisms, and outlines administrative penalties ranging from warnings to license cancellation for non-compliance.
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