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  • Chapter Eleven Emirate Insurance Society

    • Article (99)

      1. The insurance companies, reinsurance companies and insurance-related professions subject to the provisions of the law herein shall establish a professional association to be called "Emirates Insurance Association" that shall have a legal personality and all the insurance companies operating in the State shall be members of the Association. The Association shall form independent committees for the different insurance activities carried out by the members.

      2. The Association shall prepare Articles of Association issued by the Chairman after the Board’s approval under which it shall determine the Association's functions, duties, its relation with the Authority, formation of its committees for different insurance activities, provisions and procedures of its general assembly, formation of its Board of Directors, meetings of each one of them, affiliation fees, annual subscription fees, code of conduct, disciplinary procedures against the members and other related affairs.

       

      This article has been amended by Federal Law No. (03) of 2018. You are on the latest version. To view the previous version, click the version box below.
      Version 1(effective from 15/02/2007 to 26/04/2018)

       

      1. The insurance and re-insurance companies subject to the provisions of the law herein may establish a trade union to be called "Emirate Insurance Association" entertaining the status of a legal person and all the insurance companies operating in the State shall be members of the Association.

      2. The Association shall look after the interests of the holders of the insurance policies and the beneficiaries thereof as well as the interests of its members and shall implement the rules of professional conduct and represent the insurance companies before any entity or individual in connection with the insurance operations.

      3. The Association upon getting the Authority's approval shall issue a special regulation to determine pursuant thereto the Association's duties, responsibilities, its relation with the Authority, the rules and procedures of its general assembly, formation of the board of directors, meetings of each one of them, affiliation fees, annual subscription fees, rules of professional conduct, the disciplinary procedures of the members and other related affairs.