The Central Bank's Insurance Powers in the Saudi Insurance Control Law
اختصاصات البنك المركزي في التأمين — نظام مراقبة شركات التأمين التعاوني
The Saudi Central Bank receives applications to establish insurance and reinsurance companies and ancillary service providers, issues preliminary approvals and licenses, and supervises them; regulates investment of insurance funds and the surplus distribution formula; approves policy forms and minimum third-party liability cover; protects beneficiaries; and collects fees.
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Other topics in the Saudi Insurance Control Law
Cooperative Insurance and the Scope of the LawLicensing and Establishing Insurance CompaniesInsurance Ancillary ServicesGovernance of Insurance Companies and Management LiabilitySolvency and ReservesAccounts and Records of Insurance CompaniesSupervising and Inspecting Insurance CompaniesInsurance Measures and PenaltiesInsurance Dispute Committees