Book traversal links for Article (6)
Article (6)
IA-BOD-RES 18/2020 Effective from 27/4/2020The company shall apply the resolutions in force and submit an application to obtain the Insurance Authority’s approval on the classes of insurance products that will be sold through its website and comply with the following conditions:
- The Company shall not sell insurance policies of persons and funds accumulation operations and life insurance products, if linked to investment instruments, through the Company's website or any other website.
- Subject to what is stipulated in paragraph (1) of the Article herein, the Company may sell life and personal insurance policies, which don’t require specific underwriting to each individual case.
- The Company and Insurance Related Professions may sell Liability and Property insurance products through their website, in the following lines:
- Health Insurance.
- Fire insurance and associated perils.
- Land vehicles and related liabilities.
- Personal accidents.
- Comprehensive household insurance.
- Travel insurance.
- Guarantee insurance and fidelity guarantee.
- Robbery and theft insurance.
- Glass insurance.
- Professional indemnity insurance including liabilities of those professionals in the fields of heath, engineering, finance, accountancy, law and other professions.
- Workman’s compensation and employer liability insurance.
- Agriculture and livestock insurance and insurances of other animals.
- Other insurances normally falling under miscellaneous accident insurance.
- Marine cargo insurance.
- Insurance related to housing loans, credit, personal loans, credit cards and similar perils such involuntary loss of employment and wallet insurance.
- Any other insurance that the Authority approves.
- The Company shall meet the requirements stipulated in Articles (3), (4) and (5) of in the Regulations herein.