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  • Insurance Authority (IA) Board of Directors’ Resolution No. (25) of 2020 Concerning the Grievance Procedures Against the Administrative Fines Imposed by the Authority

    Effective from 18/11/2020

    Chairman of the Insurance Authority,

    Having pursued:

    - The Federal Law No. (6) of 2007, concerning the Establishment of the Insurance Authority and the Organization of Insurance Operations, its amendments and its Executive Regulation;

    - Federal Law No. (14) of 2016 on Violations and Administrative Penalties in the Federal Government;

    - Federal Decree-Law No. (20) of 2018 On Anti-Money Laundering and Combating the Financing of Terrorism and Financing of Illegal Organisations;

    - Cabinet Resolution No. (7) of 2019 Concerning the Administrative Fines Imposed by the Insurance Authority;

    - And, based on the recommendation of the Insurance Authority Director General and the approval of the Board of Directors,

    Has resolved:

    • Article (1)

      1. Any interested party may file a grievance to the Insurance Authority Board of Directors against the decision of the administrative fine imposed by the Authority within a period not exceeding (15) days from the date of notification of the decision appealed against.
      2. The grievance must be justified and contain all the reasons, justifications, documents and data supporting it at the time of submission.
      3. The grievance application shall be submitted by the Director General to the Board at the closest session to be convened as from the date of grievance submission.
      4. The Board shall study the submitted grievance and issues its decision either to reject the grievance, accept the grievance and amend the fine, or accept the grievance and cancel the fine within 60 days from the date of its submission.
      5. The Authority shall notify the complainant of the Board’s decision and follows up on its implementation.

    • Article (2)

      The Director General shall issue the decisions, circulars and forms necessary to implement the provisions of this resolution.

    • Article (3)

      This resolution shall be published in the Official Gazette, and its provisions shall take effect as from the day following the date of its issuance.