1. The duration of the license is one year ending at the end of December of each year. The duration of the first license shall be considered from the date of issuance until the end of December of the same year.

2. An application for renewal shall be submitted thirty days before the date of expiry of the registration period through the Electronic Means made for this purpose or other means adopted by the Authority, accompanied by the following documents:

1. A statement includes the insurance consulting business provided during the year.
2. A statement of changes in the information and documents submitted by him that have not been reported until the date of submission of the renewal application.
3. A professional indemnity insurance policy in accordance with the provisions of Article (10) of this Regulation.

3. After verifying the Insurance Consultant's continued compliance with the provisions of these Regulation and paying the prescribed fees, the Authority shall issue its decision on the application within (10) days from the date of the complete submission.
4. The Authority may suspend the Insurance Consultant's license to practice the activity if the complete license renewal application is not submitted.