Regulatory Alerts2023-09-11
Added · Updated
Instructions for Licensing Insurance Agents and Regulating Their Work and Responsibilities No. (10) of 2023
The Central Bank of Jordan issued Instructions No. (10) of 2023, effective September 1, 2023, establishing licensing requirements and operational rules for insurance agents. The regulations define four agent categories—production, dedicated issuance, non-dedicated production, and non-dedicated issuance—and impose specific educational, experience, and training prerequisites for natural and legal persons. It mandates strict adherence to agency contracts, periodic reporting, and professional conduct standards, while outlining administrative penalties and license suspension procedures for non-compliance.