Article 8 of the Saudi Insurance Authority Statute

This article regulates the post of chief executive officer of the Insurance Authority.

Appointment: He is appointed by decision of the board, and the decision sets his pay and his financial and job benefits. He is responsible for managing the Authority's affairs within its statute and what the board decides.

His powers:

• Proposing and submitting to the board: Supervising the preparation of the national strategy for the insurance sector, and proposing the policies, plans and programs, the organizational structure, the administrative and financial regulations and others, and proposing the fee for the Authority's services.
• Implementation and supervision: Supervising the implementation of the regulations once approved, the progress of work in accordance with the approved regulations and plans, and the preparation of the draft budget, final account and annual report.
• Representation: Representing the Authority before the courts and before government bodies, institutions and organizations inside the Kingdom and abroad, and he may delegate others to do so.
• Contracts and events: Signing agreements and contracts with the board's approval or according to the powers granted to him, and approving the holding of conferences and seminars.
• Staff: Appointing the Authority's staff in accordance with the laws and regulations and supervising them.
• Any other power the board assigns to him.

He may delegate some of his powers to whomever he sees fit among the Authority's staff.

Note how the board and the chief executive officer complement each other: the chief executive officer proposes and prepares, and the board approves. Anyone with a lawsuit against the Authority deals with its representative before the courts, and would do well to consult a lawyer who specializes in insurance and commercial cases.