Insurance Regulation Unit Holds Coordination Meeting with Interior Ministry

The Insurance Regulation Unit held a coordination meeting with the Ministry of Interior to discuss mechanisms for enhancing compliance with the provisions of the Insurance Regulation Law, its executive regulations, and the decisions issued thereunder, as well as related laws and legislation governing the insurance sector. In a statement, the Unit said the meeting underscored the importance of strengthening cooperation and joint coordination through organizing joint inspection campaigns to monitor violations committed by sector workers and to take necessary legal action against those found in violation.

The statement quoted the Unit’s head, Mohammed Al-Otaibi, saying, “The Unit has recently identified certain non-compliant practices by some workers in the insurance sector, whether concerning the decisions issued by the Unit or related laws and regulations.” Al-Otaibi emphasized that the Unit would not tolerate any violations and would take the legal measures, sanctions, and disciplinary actions permitted by law against anyone proven to have violated or attempted to circumvent the provisions of the laws and regulations governing the sector, regardless of their position or role within it, thereby ensuring the protection of clients’ rights and preserving the integrity and stability of the insurance market. He added that since its establishment, the Unit has been keen to issue regulatory decisions aimed at developing the insurance sector, raising the level of discipline and compliance within it, and strengthening the protection of clients’ rights.

For his part, Brigadier General Haqqooqi Abdulaziz Al-Omar, Head of the Security Directorates Affairs Sector at the Ministry of Interior, stressed in the statement the Ministry’s commitment to maintaining public order and enhancing compliance with prevailing laws and regulations across various sectors of the country, commending the cooperation and coordination with the Unit, which contributes to consolidating the rule of law and raising the level of compliance and discipline in the insurance sector. Al-Omar said the Ministry would take, within its jurisdiction and in accordance with applicable legal procedures, the necessary measures against proven violations to ensure respect for the laws and regulations governing the sector and to prevent any breach of public order, noting the activation of agreed-upon measures within the established legal and procedural frameworks.