Latest News
- Kuwait's Electric Vehicle Market Is About To Take Off
- Kuwait Expects The Arrival Of 800 Naimi Sheep Ahead Of Eid Al-Ad...
- Kuwaiti-American Joint Military Committee Meeting Held In Kuwait
- Woman Arrested For Witchcraft
- Numerous Violations Issued, Vehicles Seized
- New Physical Therapy And Rehabilitation Building Inaugurated At...
- Fire Engineering Bachelor's Degree Considered By General Fire Fo...
- MoH Urges Employees To Update Data By July 2024
- Banks Demand Net Salary Compliance For Loans
- Social Affairs Ministry Adds Service To Sahel App For Social Ass...
- KOC Awarded KD 187 Million In Contracts For Deep Drilling Pipes
- Fire Brigade Successfully Contains House Fire In Sulaibikhat
Non-licensed Individuals Are Kept At A Distance By The Insurance Regulatory Unit
Insurance companies cannot receive quotation requests or renewal requests from expired insurance brokerage companies.
A local Arabic daily said, the insurance companies are also prohibited from receiving requests for quotations or renewal requests from insurance brokerage companies that have expired and unlicensed, and insurance companies must notify the IRU if they receive any requests from insurance brokerage companies, e-mail the rejection, and send a copy of the e-mail to the Unit.
The Unit also indicated that insurance brokerage companies that have been licensed and unlicensed do not deserve commissions and fees for the documents they issued through insurance companies during the period of suspension and non-activity, and insurance companies are prohibited from paying commissions and fees to unlicensed and expired brokerage firms even if they obtain a license to practice the activity with retroactive effect.
Accordingly, the documents issued during the aforementioned period are considered direct documents between insurance companies and policyholders, voiding the role of the insurance broker.
Â
Get The Latest and important news on our Telegram Channel click here to join
Trending News
-
Ministry Systems Hacked, Electricity Bills Altered
11 May 2024
-
Eid Al-Adha Holiday In Kuwait: Potential 9-Day Bre...
15 May 2024
-
Team To Inspect New Airport's Solar Panel Installa...
12 May 2024
-
Expatriates Caught On Video Stealing Electricity W...
11 May 2024
-
Issuing Work Permits Based On Academic Certificate...
07 May 2024
-
Kuwait Terminated 10,000 Expats Over 5 Years
15 May 2024
-
Whatsapp New Updates Announced To Enhance Privacy...
14 May 2024
-
Ministry Of Interior Extends Biometric Fingerprint...
14 May 2024
-
MoH Updates Employee Working Hours
13 May 2024
-
Amend Your Status Or Leave Kuwait
20 May 2024
Comments Post Comment