IRU BANS THREE INSURANCE COMPANIES

  • 29/08/2022

Kuwait City: Due to serious violations, the Insurance Regulatory Unit (IRU) decided to suspend the operations of three companies until September 30. They were also forbidden from issuing any new insurance policies during this time until the situation was resolved and the suspension was lifted.


These companies broke the law by failing to comply with the following: failing to carry out final court judgments relating to their business activities; failing to pay fees and fines to monetize legal deposits; failing to comply with the deposits law in the event of a shortage; and failing to provide the unit with information about customer complaints. On the other hand, the division updated the list of approved companies to include 28 firms that are now qualified to issue insurance policies.

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