The Insurance Authority Calls on a Number of Insurance Support Services Companies to Regularize Their Legal Status
هيئة التأمين تدعو عددًا من شركات مزاولي الخدمات المساندة للتأمين إلى تصحيح أوضاعها النظامية
The Insurance Authority announced the expiry of licenses for a number of companies practicing insurance support services, citing their failure to meet regulatory requirements and comply with instructions on practicing insurance activity, based on Article Two of the Law on Supervision of Cooperative Insurance Companies (Royal Decree M/32 of 02/06/1424 AH, as amended by Royal Decree M/12 of 23/01/1443 AH) and Article Three of the Insurance Authority's organizational regulation (Council of Ministers Resolution No. 85 of 28/01/1445 AH). The Authority called on these companies to regularize their status and submit a compliant application with supporting documents via LIC@ia.gov.sa within 20 working days of the announcement's publication, warning that failure to respond within this period would lead to license cancellation procedures.
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