1. An Insurance Broker wishing to temporarily suspend the activity practice, or an Insurance Broker having a contingent reason preventing it from practicing the activity, must submit an application to the IA to temporarily suspend the activity practice and to continue practicing the activity until the IA's decision is issued. The IA may reject or approve the application for suspension after meeting all the requirements deemed appropriate by the IA in a manner achieving the interests of companies, clients and beneficiaries, provided that the suspension period may not exceed (3) months as from the date of approval thereon. Such period may be extended for another similar period subject to the Insurance Broker continuing to comply with the conditions and requirements deemed necessary by the IA to reinstate the license. The Insurance Broker shall maintain the letter of guarantee and professional indemnity insurance policy during such period.
    
2. The Insurance Broker may not practice their activity during the suspension period. In all cases, the Insurance Broker may request to resume the practice before the end of the suspension period whether the suspension was optional or when the preventing cause ceases to exist.
    
3. An Insurance Broker wishing to suspend the practice permanently shall submit an application to the IA, and shall continue to practice the activity until it has satisfied all requirements for the cancellation of the license as determined by the IA and the issuance of the IA's decision in this regard.
    

The cancellation decision shall be issued by the IA and immediately published in two widely circulated daily newspapers in the UAE one in Arabic language and the other in English language at the Insurance Broker's expense. The letter of guarantee shall be recovered and the professional indemnity insurance policy shall be terminated after the elapse of 3 months as from the date of publication in case the IA approved the same after the settlement of all the Insurance Broker's transactions and ensuring that there are no liabilities thereon towards the IA or towards other companies, clients or beneficiaries arising from its practice of the Insurance Brokerage activity.