Insurance Authority Board of Director’ Resolution No. (13) of 2020 On the Amendments of Some Provisions of the Insurance Authority Board of Directors’ Resolution No. (9) of 2011 Concerning the Instructions for Licensing Health Insurance Third Party Administrators and Regulation and Control of their Business

Chairman of the Insurance Authority,

Having perused:

- Federal Law No. (6) of 2007 concerning the Establishment of the Insurance Authority and the Organization of Insurance Operations, the amendments thereof and its Executive Regulation;
- Insurance Authority Board of Directors’ Resolution No. (9) of 2011 Concerning the Instructions for Licensing Health Insurance Third Party Administrators (TPAs) and Regulation and Control of their Business and the amendments thereof; and,
- Based on the recommendation of the Director General of the Insurance Authority and the approval of the Board of Directors;

Has resolved,

Article (1)

Article No. (13) shall be amended as follows:

  1. Paragraph No. (2) shall be replaced by the following text:
2. ” The Health Insurance Third Party Administrator (TPA) shall provide the IA with an annual report signed by the Board of Directors. This report shall include all business performed by the company during the year and the duly audited closing financial statements for the fiscal year and enclosed by the report of the External Auditor within four months as from the end of the fiscal year.”

  2. Paragraph No. (3) shall be added to Article No. (13) as follows:
3.” The TPA company shall provide IA with a quarterly report signed by the Chairman, the Director General or Chief Executive Officer. This report shall address the business of the company and the accounts related thereto, and shall be submitted within a maximum period of (45) days from the end of the quarterly period.

Article (2)

The provisions of the Resolution herein shall come into force as from the day of its issuance and shall be published in the Official Gazette .