The Annexed Schedule to the Cabinet Resolution No. (7) of 2019 Concerning the Administrative Fines Imposed by the Insurance Authority
IA-BOD-RES 7/2019 Effective from 6/1/2019| No. | Violation | Administrative Fine (AED) |
|---|---|---|
| 1 | Failure of the Company to pay the compensation stipulated in the insurance contract once the accident occurred or insured risk took place. | 50,000 |
| 2 | Failure of the company to comply with the requirements of the basics of investment in accordance with the provisions of the Financial Regulations. | 100,000 |
| 3 | Failure of the company to comply all time with the Solvency Margin and the Minimum Guarantee Fund in accordance with the provisions of the Financial Regulations. | 150,000 |
| 4 | Failure of the company to comply with the basis of calculating the Technical Provisions in accordance with the provisions of the Financial Regulations | 100,000 |
| 5 | Failure of the company to comply with Determining the company's assets that meet the accrued insurance liabilities in accordance with the provisions of the Financial Regulations. | 100,000 |
| 6 | Failure of the Company to comply with the reinsurance criteria in accordance with the provisions of the relevant instructions. | 100,000 |
| 7 | Failure of the Company to comply with the principals of the organizing accounting books and records and the data that should be inserted in these books and records, including records of Agents, Brokers and other records in accordance with the provisions of the Financial Regulations. | 10,000 |
| 8 | Failure of the Company to provide the Authority with the data in accordance with the Financial Regulations. | 10,000 |
| 9 | Failure of the Company to comply with the requirements of accounting policies and forms required for the preparation of financial statements and reports in accordance with the provisions of the Financial Regulations. | 50,000 |
| 10 | Failure of the Takaful Insurance Company to comply with the rules of the WAKALA and MUDARABA fees in accordance with the provisions of the Financial Regulations. | 100,000 |
| 11 | Violation of Company of any of the provisions contained in the rules and code of professional conduct for insurance companies. | 50,000 |
| 12 | Violation of the Company or any Insurance Related Profession of any provision of the instruction concerning Anti- money laundering and combating terrorism financing in insurance activities. | 50,000 |
| 13 | Any person practices the operations of insurance or re-insurance inside the State without obtaining a license or registered by the Authority. | 250,000 |
| 14 | Violation of the Company of the instructions issued concerning the pricing policy applied to the classes of property and liability insurance | 100,000 |
| 15 | Any person established an insurance company, opened a branch of a foreign insurance company or carried out the activity of an insurance agent without obtaining the prior approval of the Board. | 250,000 |
| 16 | The company combined between the insurance of Persons and Funds Accumulation Operations and the insurance of Property and Liability Operations in violation of the provisions of the issued Law, regulations or decisions. | 250,000 |
| 17 | Any person intermediating for insurance of property or possessions inside the State or liabilities arising therefrom with an insurance company which is not registered by the Authority in accordance with the provisions of the Law. | 100,000 |
| 18 | Failure of the company to issue the insurance policy concluded in the State in the Arabic language. | 50,000 |
| 19 | Failure of the company to write the policy's articles exempting the company from the liability in bold letters, different colour and endorsed by the insured. | 50,000 |
| 20 | The Company opened a branch without obtaining the approval of the Authority. | 100,000 |
| 21 | The company appointed a Board Member, General Manager or an Authorized Manager for the company or allowed any of them to continue to occupy his post, despite being convicted for breach of honour, trust or public moral or declared bankrupt by the court and not yet rehabilitated. | 50,000 |
| 22 | The company appointed a Board Member, General Manager or an Authorized Manager, despite being liable for significant violations of any of the provisions of the Law or of the Companies' Law, including the liability of causing compulsory liquidation of the company. | 100,000 |
| 23 | The Chairman, any of the Board Members, its General Manager, the Authorized Manager or whosoever acting on his behalf or any of the company's managers or a senior officer conducted any or all of the following: A. Participate in managing other competing insurance company or a similar company thereto, B. Compete the company's operations or do any actions or an activity that conflicts with the company's interest, C. Carry out the operations of an insurance Agent or a Broker, E. Receive a commission for any of the insurance operations. | 100,000 |
| 24 | Whosoever is in charge of the management of the company or any employee therewith has represented any of the shareholders of this company. | 25,000 |
| 25 | Failure of the company to provide the Authority with detailed description implying the qualifications and experience of the General Manger, Authorized Manager, or senior officers as specified in the executive regulations of the Law or lack of the requirement of competency and experience in the insurance operations. | 50,000 |
| 26 | Failure of the Company to inform the Authority of the names of the Board members, General Manager, Authorized Manager or any of the senior officers as specified in the executive regulations of the Law. | 10,000 |
| 27 | Failure of the Company to notify the Authority of the names of Board Members, General Manger, Authorized Manager or any of the Senior Officers in case any of these positions is vacated within sixty days as from date of vacation. | 20,000 |
| 28 | Failure of the Company's Board of Directors to provide the Authority with copies of the minutes of the Board's meetings and its resolutions related to the electing the company's chairman, his deputy, and the board's members authorized to sign on behalf of the company and their specimen signatures within seven days as from date of issuing these resolutions. | 20,000 |
| 29 | Failure of the Company to appoint or approve a licensed Actuary within a month as from date of obtaining its license. | 100,000 |
| 30 | The Company's failure to report the appointment or approval of the licensed Actuary to the Authority within a month as from the date of appointing the actuary | 10,000 |
| 31 | Failure of the Company to provide any data or information requested by the Authority on the company or on any company possessively related or associated therewith during the period as determined by the Authority, in addition to any data or information submitted by the Company to any other supervisory body and any data or information received by the company from these bodies on time of occurrence. | 50,000 |
| 32 | Failure of the Company to invite the Director General to attend the general assembly meetings before fifteen days at least as from date of its convention. | 50,000 |
| 33 | Failure of the Company, insurance related professions or any of their manager or employees to allow the person who was appointed by the Director - General to carry out inspections or audits on the books, entries, data and collect information on transactions, documents and audit reports. | 100,000 |
| 34 | Failure of the Company, insurance related professions to provide copies or photocopies of the books and data referred to in the previous Para to the person who was appointed by the Director - General to carry out inspections or audits | 50,000 |
| 35 | The company or any insurance-related profession or any of their managers or employees prevented, intercepted or obstructed any person appointed by the Director General to carry out inspections or audits. | 100,000 |
| 36 | Any person violated the rules governing ownership in insurance companies' capitals, in accordance with the provisions of the Law and decision issued pursuant thereto. | 100,000 |
| 37 | Failure of any of insurance related profession to provide any data or information required by the Authority within the specified period. | 10,000 |
| 38 | The Company's failure to pay the remunerations as determined by the Authority to experts, experts, consultants, auditors or actuaries appointed by the Authority. | 20,000 |
| 39 | Disclosure of information by expert, consultant, actuary or auditor to any party whatsoever in violation to the Law. | 50,000 |
| 40 | Failure of the Company to provide the Authority with a consolidated annual report on its operations, including all audited annual financial statements, reports and lists in accordance with the requirements of the Law and Financial Regulations. | 100,000 |
| 41 | Failure of the Company to provide the Authority with the consolidated annual report signed by the chairman of its board of directors, the authorized manager or those authorized to sign on behalf of the company. | 50,000 |
| 42 | Failure of the Company to provide the Authority with the consolidated annual report within a period not exceeding four months from the end of the fiscal year. | 50,000 |
| 43 | Failure of the Company to provide the Authority with the consolidated annual report within at least thirty-days period prior to inviting the company's general assembly to convene. | 200,000 |
| 44 | Failure of the Company to provide the Authority with quarterly financial statements and reports within the period specified period. | 100,000 |
| 45 | Failure of the Company to provide the Authority with the requirements of the reports, certificates, endorsements and the annual and quarterly financial forms in accordance with the systems adopted by the Authority. | 100,000 |
| 46 | The Company delay in paying the supervision and control fees within four months as from the end date of the fiscal year in accordance with the forms adopted by the Authority. | 0.5% of the total not settled due amount for each day of delay with a maximum limit of (AED 250,000) |
| 47 | Failure of the Company to pay the amount of qualification and training within four months as from the end date of the fiscal year. | . 0.5% of the total not settled due amount for each day of delay with a maximum limit of (AED 100,000) |
| 48 | The Company's failure to correct and present the financial accounts and loss and profit accounts to the Authority for approval before submitting them to the general assembly, despite the objection of the Director General. | 100,000 |
| 49 | Failure of the Company, that faces unfavourable financial or administrative situations or inflicted grief losses affecting the rights of the insured or the beneficiaries, represented by the Company's Chairman or its General Manager to forthwith inform the Director General of the Authority as so. | 100,000 |
| 50 | Failure of the Company to provide provide the Authority with any or all of the following a) The insurance policies' specimens and endorsements they have approved for its operations including the general and special terms and conditions and the technical basis of these policies and the premiums' ratios annexed thereto b) The schedules of the surrender values of the policies of the insurance of persons and funds accumulation operations and the premiums' ratios annexed thereto. | 50,000 |
| 51 | Failure of the Company to provide the insured and the beneficiaries with copies of the insurance policies and the related details. | 20,000 |
| 52 | Failure of the Company to comply with the doctrine of disclosure and transparency in their dealing with their clients and in respect of all the documents, papers, bulletins, advertisements, propaganda and essays and scientific materials in accordance with the resolutions issued by the Board to ensure the implementation of this obligation. | 20,000 |
| 53 | Failure of the Auditor to forthwith file a report to the Authority with copy thereof to the company's chairman of the board of directors in any of the following cases: A. Should he become evident that the financial situation of the company does not enable it to fulfil its liabilities towards the insured or hinders its capacity to meet the financial requirements provided for in the law herein and the regulations, rules, directives and resolutions issued pursuant thereto relevant to the financial situation of the company. B. Should he become evident that there is grief imperfection in the company's performance of its financial procedures. C. Should he refuse or have reservations in respect of any certificate issued by the company related to its income or its financial statements. D. Should he decided to resign or refused to be reappointment with the company for unusual reasons. | 50,000 |
| 54 | Failure of the Company's auditor to provide the Authority directly within the specified period with the information needed to supervise the company's operations. | 50,000 |
| 55 | Failure of the Company to comply with the provisions governing its own deposit, as defined by the Law. | 100,000 |
| 56 | Failure of the Company that carry out any of Persons or Funds Accumulation Insurance Operations to maintain funds therewith in the State equivalent in their value to the total amount of the special mathematical reserve of the contracts concluded inside the State or of those that are implemented therein. | 100,000 |
| 57 | The company's practice of insurance operations without being registered in the Register for the same class of insurance operations. | 150,000 |
| 58 | The company made reinsurance with another company not licensed to practice the class of insurance entrusted therewith to reinsure. | 150,000 |
| 59 | The insurance company concluded insurance contracts in classes of insurance for which there is a decision to cease operations or cancel the license of such insurance classes. | 250,000 |
| 60 | Failure of the Company to fulfill its liabilities accrued from the contracts concluded prior to the cessation of the operations or the cancellation of the license. | 250,000 |
| 61 | Failure of the insurance companies' branches to appoint an Authorized Manager for their branch to carry out the business on their behalf. | 100,000 |
| 62 | Failure of the foreign company, in the event of appointing an Authorized Manager for its branch to attach along with the appointment resolution an official document and an attested copy thereof in order to be deposited with the Authority authorizing him to exercise all necessary powers to manage the branch including the following: A. Issuing insurance policies and their annexes; B. paying the accrued indemnities. C. Representing the company before, the courts of jurisdictions, and all official and non-official bodies in connection with the branch's operations and management. D. Receipt of warnings and all notices and correspondences directed to the company. | 10,000 |
| 63 | Failure of the foreign insurance companies' branches to notify the Authority of the name of the Authorized Manager within a month as form date of his appointment or failure to appoint a replacement thereto within a month as from date of vacating his position. | 20,000 |
| 64 | Failure of the foreign insurance companies' branches to publish the Company's consolidated final accounts in two widely circulated daily newspapers issued in Arabic and English. | 100,000 |
| 65 | The Representative offices of the foreign insurance companies carried on their tasks in the State before obtaining a license from the Authority. | 250,000 |
| 66 | The Company engaged in insurance of Persons and Funds Accumulation Operations discriminated between a policy and another of the same type in respect of insurance premiums or profit amounts allotted to the policyholders or in any other conditions. | 10,000 |
| 67 | The failure of the Company engaged in insurance of Persons and Funds Accumulation Operations to examine its financial status. | 100,000 |
| 68 | Failure of the Company engaged in insurance of Persons and Funds Accumulation Operations to assess the outstanding liabilities related thereto at least once every three years by an actuary. | 100,000 |
| 69 | Failure of the Company engaged in insurance of Persons and Funds Accumulation Operations to examine its financial status in accordance with the assessment procedures referred to in the Law, when determining percentage of profits to be allotted to the shareholders or policyholders. | 10,000 |
| 70 | Failure of the Company engaged in insurance of Persons and Funds Accumulation Operations to examine its financial status in accordance with the assessment procedures referred to in the Law, whenever it publicizes its financial status | 10,000 |
| 71 | The Company engaged in insurance of Persons and Funds Accumulation Operations refused to examine its financial status in accordance with the assessment procedures referred to in the Law. | 10,000 |
| 72 | Failure of the Company to provide the Authority with a copy of the expert's report on the findings of the examination and the assessment of the financial status referred to in the Law within six months as from the expiry of the period for which the examination was conducted. | 25,000 |
| 73 | Failure of the Company to attach the documents referred to in Article (62) of the Law with the expert's report on the findings of the examination and the assessment of the financial status. | 10,000 |
| 74 | The company engaged in insurance of Persons and Funds Accumulation Operations deducted whether directly or indirectly any part of the funds intended to meet their liabilities accrued from the insurance policies in order to allocate as profits for the shareholders or the policyholders or to pay any amount other than their liabilities according to the insurance policies they have issued. | 100,000 |
| 75 | The company engaged in insurance of Persons and Funds Accumulation Operations issued saving bonds for a period exceeding thirty years | 25,000 |
| 76 | The company engaged in insurance of Persons and Funds Accumulation Operations issued saving bonds for a period of twenty-five years or more where the surrender value after the twenty fifth year is less than the full amount of the mathematical reserve. | 25,000 |
| 77 | The company engaged in insurance of Persons and Funds Accumulation Operations obliged the bearers of the saving bonds to pay premiums not equal in amounts or receding. | 25,000 |
| 78 | Failure of the Company to include invalidation clauses to be used by the company as an argument in face of the bearer for delaying payment of the premium. | 25,000 |
| 79 | The Company invalidated the contract before lapse of three months as from the due date of the premium as from date of serving a notice on the bearer of the bond by a registered letter if the bond is nominal. | 25,000 |
| 80 | Failure of the company to specify in the bonds that the right therein shall pass to the beneficiaries by reason of the death of the bearer of the bond without paying any additional amounts or imposing any further conditions. | 25,000 |
| 81 | The company licensed to operate in the free zones performed its activity outside these zones inside the State without obtaining license from the Authority. | 250,000 |
| 82 | The insurance agent carries out the operations of an insurance agent for more than one company. | 250,000 |
| 83 | Any person carries out the operations of insurance-related professions without obtaining the license and registration from the Authority. | 250,000 |
| 84 | Failure of the Company to comply with the rules of transfer of insurance policies & cessation of operations as specified in the Law. | 100,000 |
| 85 | The company initiated or intended to initiate a merger before filing an application for merger to the Director General. | 200,000 |
| 86 | Failure of the companies, which are parties of the merger to let the insured review the agreement that organizes the merger process or failure to display the merger agreement at the main office of each one of these companies for fifteen days as from date of publishing the resolution of merger in the Official Gazette. | 100,000 |
| 87 | The liquidator violates his liabilities that are specified in the Law. | 50,000 |
| 88 | The company reluctance or failure to provide clarifications on the complaints received by the Authority concerning the insurance operations carried out by the company inside the State. | 50,000 |
| 89 | The Company delay in providing clarifications on the complaints received by the Authority concerning the insurance operations carried out by the company inside the State within the period specified by the Authority. | 25,000 |
| 90 | Failure of the company to pay the expenses of publishing any of the decisions issued by the Authority in accordance with the relevant Law and regulations, including registration's suspension, cancellation, or re-registration or the decisions related to companies' merger, acquisition, liquidation, or termination. | 20,000 |
| 91 | Any person refused to provide the Authority with documents, information and data that must be submitted in accordance with the Law and regulations issued thereunder. | 100,000 |
| 92 | Obstruction of the Director General or his authorized representative in carrying out his duties or intervention to prevent them from obtaining information. | 50,000 |
| 93 | Failure of the Company, Insurance Broker or insurance Agent to include the schedule of the policy and the insurance certificate in the insurance premium / subscription that is clearly collected from the client, including all allowances, expenses and commissions. | 50,000 |
| 94 | The insurance Broker or insurance Agent charged any additional amounts or expenses to the net insurance premium specified by the insurance company. | 250,000 |
| 95 | The insurance Broker combined between his position as an insurance Broker and the position of an insurance Agent, insurance Consultant, Loss & Damage adjustor or actuary. | 50,000 |
| 96 | Failure of the insurance Broker to comply with the rules of professional practice as specified in the regulations. | 50,000 |
| 97 | Violation of the insurance Broker of the conditions and procedures of licensing and registration specified in the regulations. | 50,000 |
| 98 | Violation of the insurance Broker of the conditions of the technical and administrative staff in accordance with the regulation. | 10,000 |
| 99 | Violation of the insurance Broker of the requirements and conditions of the Conditions for getting the Professional Indemnity Insurance Policy, specified in the regulations. | 10,000 |
| 100 | Violation of the insurance Broker of the requirements and conditions of the Internal Bylaws , specified in the regulations. | 20,000 |
| 101 | Violation of the insurance Broker of his obligations towards the Insurance Authority, the insurance company or the clients in accordance with the Insurance Brokerage Regulations. | 50,000 |
| 102 | The insurance Broker's violation of the terms of opening branches of the insurance Brokers. | 50,000 |
| 103 | The insurance Broker or insurance Agent carried out their business or marketed insurance services through persons, who are not licensed by the Insurance Authority or working therein. | 100,000 |
| 104 | The company contracted with a person not registered in Authority's Register of Insurance Agents to authorize him to carry out the insurance agent operations. | 100,000 |
| 105 | The insurance Agent practiced his business for a company not licensed or registered by the Authority. | 50,000 |
| 106 | The insurance Agent carried out his business without concluding an agency contract with the Company. | 50,000 |
| 107 | Failure of the insurance Agent to submit a copy of the agency contract with the Company to the Authority. | 10,000 |
| 108 | The insurance Agent assigned the agency contract or authorized a third party to practice the insurance operations authorized to him. | 50,000 |
| 109 | The insurance Agent practiced the profession of an insurance Broker. | 50,000 |
| 110 | The insurance Agent combined between the types of insurance without complying with the terms and conditions specified in the Regulations. | 20,000 |
| 111 | Violation of the insurance Agent of the requirements of the Professional Indemnity Insurance Policy specified in the regulations. | 10,000 |
| 112 | The insurance Agent's violation of the terms and conditions for licensing, specified in the regulations | 5,000 |
| 113 | Violation of the insurance Agent of the decision of suspending him from practicing the business. | 50,000 |
| 114 | Violation of the insurance Agent of the conditions for opening a branch of the insurance Agency inside the State. | 50,000 |
| 115 | Failure of the insurance Agent to comply with his duties specified in the regulations. | 20,000 |
| 116 | Failure of the insurance Agent to deposit all insurance premiums or any amounts received in his capacity as an insurance Agent for the Company in a special account in a bank operating in the State, and dedicating this account to deposit these amounts and paying them as specified in the regulations. | 50,000 |
| 117 | Failure of the insurance Agent to comply with the rules of professional practice as specified in the regulations. | 20,000 |
| 118 | Violation of the insurance Agent of the provisions of the insurance agents' registration requirements. | 10,000 |
| 119 | Failure of the health insurance TPA company to comply with the laws and instructions issued by the medical authorities of the Emirate in which it operates. | 20,000 |
| 120 | Failure of the Health Insurance TPA company to comply with the permissible business limits to practice. | 50,000 |
| 121 | Failure of the Health Insurance Health Insurance TPA company to comply with the licensing conditions. | 50,000 |
| 122 | The Health Insurance TPA company sold or marketed health insurance policies. | 50,000 |
| 123 | The Health Insurance TPA ownership or shares in the capital or management of any medical facility or health insurance company. | 50,000 |
| 124 | Failure of the Health Insurance TPA to separate its accounts from the accounts of funds generated from its activities in the health insurance claims. | 50,000 |
| 125 | The Health Insurance TPA entered into agreements to provide services inside the State with an insurance company not licensed to operate in the State. | 100,000 |
| 126 | Failure of the Health Insurance TPA to comply with the conditions for the staff working therein. | 10,000 |
| 127 | Violation of the Health Insurance TPA of the of the terms and conditions of the agreements concluded with the insurance company and medical service providers. | 50,000 |
| 128 | Failure of the Health Insurance TPA to provide the Insurance Authority with the agreement concluded between it and the insurance company and providers of medical service providers within the specified period. | 10,000 |
| 129 | Failure of the Health Insurance TPA to notify the Insurance Authority of any change to the data or information based on which the TPA was licensed immediately as such change occurs. | 10,000 |
| 130 | The Health Insurance TPA made changes to the information based on which the TPA was licensed in violation of the provisions of the relevant instructions and decisions. | 10,000 |
| 131 | Failure of the Health Insurance TPA to comply with its duties specified in the Instructions for Health Insurance Third Party Administrators. | 50,000 |
| 132 | Faire of the Health Insurance TPA to comply with the rules of practicing the profession specified in the instructions. | 20,000 |
| 133 | Failure of the Health Insurance TPA to maintain records and books containing all matters related to its business and not maintaining the agreements concluded with the Insurance Company and the Medical Service Providers. | 50,000 |
| 134 | Failure of The Health Insurance TPA to provide the Insurance Company with all records and books, in case of terminating the agreement concluded with them. | 10,000 |
| 135 | Violation of the Health Insurance TPA of the conditions of opening a branch inside or outside the State. | 50,000 |
| 136 | Violation of the insurance Consultant of the conditions and procedures for licensing as specified in the regulations. | 20,000 |
| 137 | Violation of the licensed and registered insurance Consultant of the general provisions specified in the regulations. | 20,000 |
| 138 | Violation of the Insurance Consultant of his obligations or duties specified in the regulations. | 10,000 |
| 139 | Failure of the insurance Consultant to comply with the rules of practicing the profession in accordance with the regulations. | 20,000 |
| 140 | Failure of the insurance consultant to notify the Authority of any modification or change in the content of the documents and data based on which he was licensed within the specified period. | 5,000 |
| 141 | Violation of the licensed and registered Actuary of the general provisions specified in the regulations. | 50,000 |
| 142 | Violation of the Actuary of the conditions and procedures that should be met for licensing actuaries. | 50,000 |
| 143 | Failure of the Actuary to notify the Authority of any change in the content of the documents and the data based on which he was licensed within a maximum period of (10) days. | 10,000 |
| 144 | Failure of the Actuary to notify the Authority in case the manager in charge position therein is vacant. | 5,000 |
| 145 | Failure of the Actuary to fill in the vacant position within a period of (three) months as from the date the position becomes vacant | 10,000 |
| 146 | Violation of the Actuary of the requirements of the Professional Indemnity Insurance Policy as specified in the regulations. | 10,000 |
| 147 | Failure of the Actuary to inform the Authority that he is providing services in his capacity as an employee or appointed actuary under a contract within seven days as from the date of commencement of his relationship with the Company. | 5,000 |
| 148 | Violation of the corporate Actuary of the conditions of opening branches inside the State. | 50,000 |
| 149 | Violation of the Actuary of his obligations, duties, basic functions or the specified additional duties in accordance with the regulations. | 50,000 |
| 150 | Failure of the Actuary to comply with the rules of practicing the profession in accordance with the regulations. | 20,000 |
| 151 | Violation of Damage and Loss Adjusters of the conditions and procedures that should be met for licensing and registration in accordance with the regulations. | 20,000 |
| 152 | Violation of Damage and Loss Adjusters of the conditions for opening branches inside the State. | 10,000 |
| 153 | Failure of the Damage and Loss Adjusters to carry out their duties | 20,000 |
| 154 | Violation of the Damage and Loss Adjusters of the contents of the settlement report. | 20,000 |
| 155 | Violation of the Damage and Loss Adjusters of the requirements of the Records of the Dadmager and Loss Adjuster. | 20,000 |
| 156 | Failure of the Damage and Loss Adjusters to submit the data specified under the regulations. | 20,000 |
| 157 | Failure of the Damage and Loss Adjusters to submit the data specified in the regulations approved by an auditor registered by the Authority. | 20,000 |
| 158 | Failure of the Damage and Loss Adjusters to submit the data specified in the regulations within three months from the end of the financial year. | 10,000 |
| 159 | Violation of the Damage and Loss Adjusters of the decision of his suspension from practicing the operations. | 20,000 |
| 160 | The Company opened a point of sales for insurance products without being licensed and registered in the Insurance Authority Register. | 50,000 for each point of sales |
| 161 | The Company authorized a point of sales to pay compensations. | 10,000 |
| 162 | Violation of the Company of the conditions of licensing points of sale affiliated thereto. | 50,000 |
| 163 | Violation of the company of any of the duties and obligations of the point of sales towards customers. | 50,000 |
| 164 | Failure of the Company to renew the registration of the Point of Sales | 10,000 |
| 165 | The company registered its Point of Sale based on incorrect information or data. | 20,000 |
| 166 | Failure of the company to submit all records, documents to the Authority to supervise the Point of Sales or any of its employees, companies, customers or beneficiaries. | 20,000 |
| 167 | Failure of the Company's Point of Sales to place all records, documents and entries at the disposal of the Authority and its employees. | 50,000 |
| 168 | Failure of the Company's Point of Sales to cooperate with the Authority and its employees in order to fully carry out their work. | 25,000 |
| 169 | Failure of the Point of Sale to provide any data or information required by the Authority within the period specified by it. | 10,000 |
| 170 | Violation of the Company of its obligations under the motor vehicle insurance policy. | 20,000 |
| 171 | Failure of the Company to provide “substitute motor vehicle” or the allowance for renting an alternative motor vehicle. | 20,000 |
| 172 | The Company collected a passenger premium for persons not employed by the Insured. | 5,000 |
| 173 | Violation of the company of the tariff rate defined for motor vehicles insurance. | 50,000 |
| 174 | Violation of the company of the defined percentages of recoverable premium in the motor vehicle insurance policy. | 10,000 |
| 175 | Violation of the company of the general conditions in the motor vehicle insurance policy. | 20,000 |
| 176 | The company developed additional conditions without highlighting these conditions by different color or font and without being endorsed by the insured. | 20,000 |
| 177 | Failure of the Company to comply with the two forms annexed to the unified motor vehicle insurance policy, when issuing insurance policies against third party liability and against loss and damage. | 30,000 |
| 178 | The Company non observance of the Arab Treaty related to the Orange Card, when issuing the insurance policy. | 10,000 |
| 179 | The Company accepted the extension of the third party liability insurance policy to Arab countries under an insurance policy other than the Orange Card. | 25,000 |
| 180 | The Company refused the application for insurance policy against third party liability or against loss or damage of a motor vehicle that meets the applicable conditions of the Traffic Law. | 25,000 |
| 181 | The Company refused to renew the insurance policy of a motor vehicle that meets the applicable conditions of the Traffic Law. | 25,000 |
| 182 | The company discriminated between the insured in relation to insurance rates , conditions and benefits of insurance coverage on the grounds of age, gender, residence place, or lapse of less than one year after being granted the driving license, unless it presented satisfactory technical or legal reasons. | 25,000 |
| 183 | Failure of the company, in case of total loss to promptly pay the amount of compensation to the insured within the specified periods in accordance with the basis stipulated in the Unified Motor Vehicle Insurance Policies Regulations. | 50,000 |
| 184 | Failure of the Company, in case the claim was rejected to inform the claimant of the reasons of the rejection in writing along with a copy of the documents supporting the company's decision. | 30,000 |
| 185 | Failure of the Company to settle claims resulting from motor vehicle accidents within a period not exceeding fifteen days as from the date of receiving the complete documents of the claim. | 50,000 |
| 186 | Violation of the Company of the general conditions in the Unified Motor Vehicle Insurance Policies Regulations for the class of insurance policy issued by it. | 30,000 |
| 187 | Violation of the company of its liabilities under the Unified Motor Vehicle Insurance Policies Regulations for the class of insurance policy issued by it. | 50,000 |
| 188 | Violation of the company of the provisions specified for the termination of the motor vehicle insurance policy. | 20,000 |
| 189 | Violation of the company of the general provisions specified in the motor vehicle insurance policy. | 50,000 |
| 190 | Violation of the Company of the depreciation percentages for parts of motor vehicles specified in the motor vehicle insurance policy for the class of insurance policy issued by it. | 20,000 |
| 191 | Violation of the Company of the percentages of recoverable premium in case the motor vehicle policy was terminated. | 20,000 |
| 192 | Violation of the company of the basics of claims settlement in accordance with the instructions. | 20,000 |
| 193 | Violations of the Takaful insurance company of the terms and conditions of membership contribution document for Takaful insurance. | 30,000 |
| 194 | Violation of the Takaful insurance company of the provisions of founding the Shari'a Supervisory Committee in accordance with the legislations issued by the Authority. | 30,000 |
| 195 | Violation of the Takaful insurance company of the terms and conditions of membership in the Shari'a Supervisory Committee in accordance with the legislations issued by the Authority. | 20,000 |
| 196 | Failure of the Takaful insurance company to develop an internal bylaws for the work of the Shari'a Supervisory Committee in accordance with the legislations issued by the Authority. | 10,000 |
| 197 | Violation of the Takaful insurance company of the conditions for appointing the Shari'a Controller in accordance with the legislations issued by the Authority. | 10,000 |
| 198 | Violation of the Takaful insurance company of the provisions of dividing the family Takaful insurance account in accordance with the legislation issued by the Authority. | 20,000 |
| 199 | Violation of the Takaful insurance company of the provisions of the accounts related to the classes and types of Takaful insurance in accordance with the legislation issued by the Authority. | 20,000 |
| 200 | Violation of the Takaful insurance company of the provisions of Rights of Participants and sharing the surplus in Participants' accounts in accordance with the legislation issued by the Authority. | 50,000 |
| 201 | Failure of the Takaful insurance company to respond within (ten) working days to the request of the participant of Takaful Family Insurance Account by providing him with a copy of the Actuary's report concerning the audit of the account of this type of Takaful insurance. | 15,000 |
| 202 | Violation of the Takaful insurance company of the terms and conditions of “Qard Hasan” specified in accordance with the legislations issued by the Authority. | 100,000 |
| 203 | Violation of the Takaful insurance company of the terms and conditions of Re-Takaful specified in accordance with the legislations issued by the Authority. | 50,000 |
| 204 | Violation of the Takaful insurance company of the terms and conditions of establishing a Zakat Fund for its own self, in accordance with the legislations issued by the Authority. | 50,000 |