Regulatory Alerts2026-07-12
Added · Updated
Instructions for Licensing, Regulating, and Supervising the Business of Loss Adjusters and Surveyors No. ( ) of 2026
These Instructions, issued by the Central Bank pursuant to Articles 82(a) and 109(b) of the Insurance Business Regulation Law No. 12 of 2021, establish comprehensive requirements for licensing and regulating natural and corporate loss adjusters and surveyors. They specify general and special licensing conditions, including residency, independent office setup, and conflict of interest avoidance. Foreign company branches must be licensed in their home country for at least three years, demonstrate good reputation and solvency, and obtain a no-objection letter from their supervisory authority. The instructions also detail suitability criteria for individuals, including minimum education (Bachelor's degree or specialized professional certificate), practical experience (e.g., five years for corporate entities or six years in claims management for insurance companies), and passing a Central Bank exam, with exemptions for certain experienced or previously licensed individuals. Specific duties for loss adjusters and surveyors are outlined, along with obligations such as affixing registration numbers, avoiding conflicts of interest, and continuous professional development (minimum fifteen hours annually). Loss adjustment reports for motor insurance must be completed within five working days of receiving complete documents, and corporate entities must have internal control policies and written complaint handling procedures. Corporate loss adjusters and/or surveyors may open more than five branches domestically or internationally if they have been licensed for three years, have capital of at least 50,000 Dinars, and have achieved operating profits for the preceding two years.
Instructions for Licensing, Regulating, and Supervising the Business of Loss Adjusters and Surveyors No. ( ) of 2026 Instructions for Licensing, Regulating, and Supervising the Business of Loss Adjusters and Surveyors No. ( ) of 2026 Article (1): Assignment These Instructions shall be called (Instructions for Licensing, Regulating, and Supervising the Business of Loss Adjusters and Surveyors) and are issued pursuant to the provisions of Paragraph (a) of Article (82) and Paragraph (b) of Article (109) of the Insurance Business Regulation Law No. (12) of 2021, and shall be effective from the date / / 2026. Article (2): Definitions The following words and terms, wherever they appear in these Instructions, shall have the meanings assigned to them below, unless the context indicates otherwise: Law: Insurance Business Regulation Law No. (12) of 2021. Manager of Loss Adjustment and/or Surveying Business: The person approved by the Central Bank and responsible for managing loss adjustment and/or surveying business for a corporate loss adjuster or surveyor. Practitioner of Loss Adjustment and/or Surveying: The person approved by the Central Bank to practice loss adjustment and/or