IA organizes a seminar on the legal principles
in insurance for members of the judiciary in Abu Dhabi
Abu Dhabi, 10 April 2016
The Insurance Authority (IA) organized the first
seminar for members of the judiciary in Abu Dhabi under the title of "Legal
Principles and Technical Rules of Insurance" at the headquarters of Abu Dhabi
The seminar, which forms a part of a specialized
and joint seminars’ program between the Insurance Authority and members of the judiciary
in the emirate of Abu Dhabi, was attended by about 30 judges, counsels and prosecutors,
as well as a number of employees of the Authority and the Judicial Department in
During the opening ceremony, Dr. Ahmed Mohammed
Hassan Rashidi, Director of Abu Dhabi Judiciary Academy, extended thanks and appreciation
to the Insurance Authority for organizing this seminar, which contributed to enhancing
the cognitive awareness on the legal and technical aspects of the insurance business.
In their turn, the experts of the Insurance
Authority delivered a detailed presentation on the role of the Authority in regulating
and monitoring the insurance business in the State in addition to certain illustrative
information on the local insurance market.
The illustrative presentations reviewed several
legal principles and technical rules that govern the insurance operations by addressing
the general legal framework for the insurance contract in the UAE and the laws and
regulations governing the work of professions related to insurance and the difference
between traditional insurance, cooperative insurance, and Takaful insurance.
The seminar also reviewed the basic legal principles
of insurance, which are: the principles of
maximum good faith, insurance interest, arbitrary conditions, compensation, and
remedies, as well as reviewing the legal principles of the insurance contract, technical
rule for insurance operations represented in the risks, the insurance premium and
how it is calculated, and the allocation of technical provisions and how to extract
The seminar also addressed aspects related to
reinsurance from a legal perspective as the re-insurance contract is a separate
and independent contract, and there is no legal relationship between the Insured
and the re-insurance company.
At the conclusion of the seminar, in-depth legal
discussions were held among the participants about the detailed legal aspects of
the insurance operations. Such discussions
contributed to the enrichment of the seminar and to instilling legal knowledge and
On their part, the participants expressed their
thanks and appreciation to the Insurance Authority for organizing this introductory
seminar, which contributed to enhancing cognitive and educational awareness in all
aspects of insurance.
The participants commended the role of the Authority
in developing the performance of the Insurance Sector and its permanent endeavor
to strengthen the local market regulation by issuing insurance legislation, updated
and sophisticated regulations in this area.