The Insurance Regulatory Unit (Arabic: وحدة تنظيم التأمين) was established in accordance with Law No. (125) of 2019 regarding the regulation of insurance issued in the Official Gazette on 01-09-2019, and according to the law, the unit regulates insurance activity and controls it in a manner that is fair, transparent and competitive, and develops insurance activity. In line with international best practices and providing protection for all stakeholders involved in the insurance activity.[1][2][3][4]
 | |
| Authority overview | |
|---|---|
| Formed | 1 September 2019 |
| Jurisdiction |  Kuwait |
| Headquarters | KAMCO Tower, Kuwait City. |
| Parent department | Ministry of Commerce and Industry |
| Website | iru.gov.kw |
Objectives
editSource:[5]
- Regulates insurance market activities in a manner that is fair, transparent and competitive.
- Develops insurance activities and mechanisms in line with best international best practices.
- Providing protection for all stakeholders involved in insurance activities.
- Applies policies that achieves fairness, transparency and prevents conflict of interests.
- Ensures compliance with regulations pertaining to insurance activities.
- Raises public's awareness of insurance activities, benefits, risks, and legal obligations.
References
edit- ^ "Insurance Regulatory Unit issues a set of resolutions to regulate and supervise the insurance sector". Kuwait News Agency.
- ^ "Insurance Regulatory Unit issues the bylaw of law (125) of the year 2019". Kuwait News Agency.
- ^ "«وحدة التأمين» تصدر اللائحة التنفيذية لقانون تنظيم التأمين في البلاد". www.aljarida.com (in Arabic). 20 March 2021. Retrieved 2021-07-20.
- ^ "إصدار اللائحة التنفيذية لقانون تنظيم التأمين". Alrai-media (in Arabic). 2021-03-20. Retrieved 2021-07-20.
- ^ "عن الوحدة • وحدة تنظيم التأمين". iru.gov.kw. Retrieved 2021-07-20.
External links
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