Insurance Authority require the Insurance brokers to issue cheques of the insured in favor of the insuring company

: 1/24/2012

Insurance Authority required the Insurance brokers licensed to operate in the State to issue the cheques issued by the insured to cover the premiums in favor of the insuring company directly as from beginning of March next. H.E Fatima Ishaq Al Awadi, Deputy Director General of the Insurance Authority said in a circular sent to all the licensed brokers that Insurance Authority will oblige Insurance companies to pay the commission due to the brokers within seven days as from date of paying the cheque.

H. E. added that the Insurance Authority in another circular required all the insurance companies operating in UAE to amend the brokerage agreement concluded with insurance brokers in order to conform to the new procedures and observe the obligation of paying the commission due to the broker within seven days at most as from date of paying the cheque.

ONLINE POLL

{{pollData.Question._Eng}}{{pollData.Question._Ara}}


({{progress}}%)
× Error! {{myError}}
× Done! {{successMsg}}
{{voteItem._Eng}}{{voteItem._Ara}} ({{voteItem._Percentage}}%):
{{voteItem._Eng}}{{voteItem._Ara}} ({{voteItem._Percentage}}%)