The Company and Insurance -Related Professions, after satisfying the procedures set forth in the Regulations herein- when outsourcing the electronic insurance operations to other party, outsourcing the development, management or maintenance of its website or outsourcing any other operations related to its website, shall develop a special provision in the Outsourcing Contract thereunder the other party shall commit to apply the provisions of the Regulations herein, the code of professional practice issued by the Insurance Authority, and other related legislation. The Company and Insurance-Related Professions shall remain accountable to the IA.
It is permissible to execute contracts through electronic automated means, including two or more electronic information systems that are prepared and programmed to do such in advance. The contracting shall be valid and has legal ground0s, even if no direct personal interference was done in the process of executing the contract between these systems.
It is permissible to enter into a contract through an electronic automated system in the possession of a Company and Related Professions and other party, provided the other party knows or is expected to know that the system will automatically handle entering and executing the contract.
The Company and Related Professions, that wish to sell their insurance products through a website owned by other party licensed for this purpose, shall obtain the prior approval of the Insurance Authority. The Company and Related Professions shall verify that the website of the other party meets the following conditions:
If the other party's website is used to sell the insurance products of other companies, each insurance product must be clearly linked to the company providing it.
The website shall include all the information and data that need to be disclosed by the company, such as; the Company name, address, license status, classes of insurance activities, channels of communication with the Company.
The Website of the other party shall clarify the role of this party, its obligations towards customers such as the insured and whether this party is a broker or insurance agent licensed by the Insurance Authority or any other authority.