Kuwait's Insurance Regulatory Unit (IRU) held a coordination meeting with the Ministry of Interior on enforcing the Insurance Regulation Law, its executive regulations and related decisions, the IRU said in an Arabic statement on its website. The two sides agreed to organise joint inspection campaigns to detect violations by sector employees and to take legal action against those found in breach.
IRU head Mohammed Suleiman Al-Otaibi said the unit had recently observed violating practices by some workers in the sector, against both its own decisions and other state laws, including attempts to get around them. He said the unit would not be lenient with penalties, whatever a person's position or role. Brigadier Abdulaziz Bandar Al-Omar, head of the ministry's security directorates sector, said the ministry would act on proven violations within its powers.
The statement ended by reminding supervised companies that they are responsible for making sure their own staff meet legal and regulatory requirements.
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Insurance Regulatory Unit, Kuwait — circulars ↗This is an original summary of the linked report, selected by Axxion’s GCC market monitor. Facts are attributed to the publication.