The Follow-up and Enforcement Section follows the compliance of all entities operating in the insurance sector in the State, including insurance companies and insurance associated professions companies; such as insurance brokers, insurance agents, experts, actuaries and health insurance TPA companies, with the insurance laws and regulations governing the insurance business. Thus, creating a suitable environment to enhance and promote the insurance industry role in the State .As well as, enabling the Insurance Authority to perform its duties to protect the rights of the insured and beneficiaries of the insurance business and to monitor the solvency of companies in providing adequate insurance coverage to protect these rights. In addition to, raising the efficiency and compliance of the companies with the business code of conduct and ethics to increase their ability to provide the best services to the beneficiaries of insurance and to achieve positive competition between companies. The Follow-up activities include investigations and review of documentary evidence supporting allegations of unfair competition methods, unfair or deceptive acts or improper practices and other violations of Laws, regulations, decisions and insurance instructions in force. Where appropriate, the role of the Follow-up and Enforcement Section shall be to enforce the provisions of the Insurance Law in force, the instructions, resolutions and circulars issued thereunder. The enforcement procedures include but not limited to, negotiated settlements, administrative sanctions and penalties, developing compliance and corrective programs, as well as the development and supervision of corrective plans, addressing notices or warnings letters, and issuing decisions of cessation, suspension, resumption or cancellation and other financial sanctions.
In general, the Authority shall use its executive powers insofar as it is necessary to achieve its objectives and in such a way as to ensure the continuity of work of the companies under its supervision and organize them in a sound and effective manner in accordance with the laws and legislations in force. Taking into consideration the promotion of fair competition and enhancement of the role of the insurance industry in the State.
The Follow-up and Enforcement Section