1. Direct insurance operations as provided for in the Law shall be divided into three:
    
   1. Insurance of persons and funds accumulation operations
   2. Properly insurance
   3. Liability insurance
       
2. Insurance operations shall include the relevant activities of the categories provided for in paragraph (1) of the Article herein and shall include as well reinsurance operations and all the professions associated with the insurance which in their respect the Board had issued regulations, directives or special resolutions.

Insurance of persons and funds accumulation operations shall include the following:

1. Life assurance of all types including among others all insurance operations designed to pay certain amounts of money in case of death, disability, reaching certain age or life assurance associated with investment vehicles.
    
2. Health insurance of all types.
    
3. Personal accident insurance associated with life assurance (all insurance operations against personal accidents done by the company in favor of the individuals holding life assurance policies of the same company).
    
4. Funds accumulation operations (all operations the purpose of which formation of a capital to be paid in a specified date against a premium or periodic premiums without linking the same to life or death probabilities).

Property insurance and Liability insurance and the activities associated therewith shall include the following:

1. Fire insurance and the allied perils.
    
2. Land transport, marine and air cargo insurance and the related liabilities.
    
3. Marine hull, machinery, and equipment insurance and the related liabilities.
    
4. Aviation hull insurance and the like and their machineries and equipment and the related liabilities.
    
5. Satellites, balloons and spaceships insurance, and their machineries and equipment and the related liabilities.
    
6. Railway locomotives and coaches insurance and the related liabilities.
    
7. Land vehicles insurance and the related liabilities.
    
8. Engineering insurance and the related liabilities and insurances normally associated thereto.
    
9. Oil insurance including the insurances which are normally considered oil insurance.
    
10. Health insurance of all types.
     
11. Miscellaneous accident insurance including the following types:
     
    1. Personal accident insurance.
        
    2. Guarantee insurance and fidelity guarantee.
        
    3. Money, coins, securities, bonds and the like insurances whether during transport or in safe.
        
    4. Robbery and theft insurance.
        
    5. Glass insurance.
        
    6. Professional indemnity insurance including liabilties of those professionals in the fields of health, engineering, finance, accountancy, law and the other professions.
        
    7. Workman's compensation and employer liability insurance.
        
    8. Agriculture and livestock insurance and insurance of other animals.
        
    9. Other insurances normally falling under miscellaneous accident insurance.

1. The Authority at any time may determine other types of insurance to be enlisted under any of the insurance categories stated in Article (3) of the Regulation herein and may determine risks to be compulsorily insured. The Authority may determine unified tariffs of each one of these types of insurance as the public interest might necessitate.
    
2. The Authority may take the necessary legal procedures to attain the above mentioned objectives including proposing and preparing draft laws should the matter necessitate and issuing the necessary, regulations, rules, directives, and resolutions.