Yesterday, the Insurance Authority launched the second incentive package to support the insurance sector, and to ensure the continued performance of insurance companies and associated professions companies, and to enable them to face the repercussions and challenges that the world markets are witnessing as a result of the spread of the new Corona virus.
The authority emphasized in a circular that the new package comes within the framework of the authority’s keenness to translate the vision of wise leadership and government directives, in order to continuously provide services, enhance remote work systems, as well as facilitate business, stimulate growth, and help companies perform their tasks smoothly during this stage.
The circular clarified that the new incentive package includes three initiatives, the first is the launch of the Insurance Academy for free professional training for citizens and some free programs for workers in the sector, while the second initiative focuses on extending the application period on instructions for regulatory rules for the experimental environment of financial technology in the insurance sector, While the third initiative is to launch the insurance radar initiative.
The authority indicated that the launch of the insurance academy for free professional training for citizens comes from its keenness to achieve continuous training in various areas of insurance, and strive to provide it with the easiest ways and the lowest costs.
She added that the free training academy available on the Authority's website: (www.ia.gov.ae) will contribute greatly to developing sector cadres, which will have a positive impact on the business environment.
In the circular, the authority emphasized the extension of the application period for affiliation with the experimental environment for financial technology in the insurance sector, and the launch of the fast track by decision-making in applications to 15 June 2020, instead of the previously specified period between mid-March and mid-April 2020.
She pointed out that in order to activate the monitoring of any unsound practices at the present time, the “Radar Insurance” initiative was launched, and it is directed to insurance companies and related professions, including companies, individuals, policyholders and beneficiaries, and other entities or institutions, or the general public, from In order to make any incorrect comments or practices affecting the performance of the insurance sector.
The authority stressed the importance of coordination and joint cooperation with the private sector, to meet the challenges of the "Corona" threat.
The 3 initiatives
Insurance Academy for Free Professional Training for Citizens.
Extending the period of submitting applications regarding the instructions of the regulatory rules.
- "Insurance Radar" for feedback.