Book traversal links for Tenth: Exiting the Experimental Environment
Tenth: Exiting the Experimental Environment
IA-BOD-RES 41/2019 Effective from 15/9/20191. Suspension at the request of the innovative solution provider as a result of technical difficulties or similar issues, that are beyond his control forcing him to suspend the test until they are resolved.
2. The Authority may decide to suspend or terminate the test for public interest.
3. Termination of the test at the request of the innovative solution provider.
4. The pilot period shall be ended at the end of its term.
5. In case the solution testing process is successful, these companies shall be permitted to release these solutions in the UAE insurance market within the controls to be determined by the Authority. However, the Innovative Solutions Owners must be fully licensed and registered to launch their digital solutions in the market. The Authority shall accelerate the registration and licensing procedures, as long as the Innovative Solution Owner is able to satisfy the conditions of registration and licensing, in accordance with the provisions of the Federal Law No. (6) of 2007 Concerning the Establishment of the Insurance Authority and the Organization of Insurance Operations as amended, as well as its executive and regulations, resolutions, regulations and instructions issued pursuant thereto.