Regulatory Alerts2025-01-02
Added · Updated
Instructions on Insurance Company Liability in Mandatory Vehicle Insurance No. (21) for the Year 2024
The Central Bank of Jordan issues Instructions No. (21) for 2024, effective January 1, 2025, establishing fixed liability amounts for insurance companies under mandatory vehicle insurance. The document mandates specific compensation limits, including 17,000 Jordanian Dinars for death or total permanent disability, 100 Dinars per week for temporary disability up to 39 weeks, and 3,000 Dinars for moral damages. Additionally, it sets maximum liability caps at 7,500 Jordanian Dinars for medical treatment expenses and 75,000 Jordanian Dinars for property losses per incident. These instructions repeal the previous 2010 instructions while maintaining existing related decisions until replaced.