| Title | Prakas No. 865 on Insurance Licensing to Agent Broker and Loss Adjuster |
| Type | Regulation |
| Issuing Agency | Ministry of Economy and FinanceMinistry of Economy and Finance |
| Issuing Date | 23/11/2001 |
No English Translation Available
| Name | Type | Agency | Description | Comments | Law | Validity |
|---|---|---|---|---|---|---|
| Licensing requirement of agents, brokers and loss adjusters | Licensing (based on experience, track record, technical requirements, and/or other) | Ministry of Economy and Finance | Agents, brokers and loss adjusters are required to obtain a license by MEF prior to commencement of operations. | - | Prakas No. 865 on Insurance Licensing to Agent Broker and Loss Adjuster | 23/11/2001 |
| Licensing requirement of agents, brokers and loss adjusters | Licensing (based on qualifications / education) | Ministry of Economy and Finance | Agents, brokers and loss adjusters are required to obtain a license by MEF prior to commencement of operations. | - | Prakas No. 865 on Insurance Licensing to Agent Broker and Loss Adjuster | 23/11/2001 |
| Capital requirement for agents, brokers and loss adjusters | Minimum capital requirements | Ministry of Economy and Finance | Minimum capital required for agents, brokers and loss adjusters, as mentioned under article 2. | - | Prakas No. 865 on Insurance Licensing to Agent Broker and Loss Adjuster | 23/11/2001 |
| Limited duration of license for agents, brokers and loss adjusters | Numerical restrictions (duration license) | Ministry of Economy and Finance | The license for agents and loss adjusters is valid for 3 years, and for broker is valid for 1 year; renewable. | - | Prakas No. 865 on Insurance Licensing to Agent Broker and Loss Adjuster | 23/11/2001 |
| Fee requirement for license for agents, brokers and loss adjusters | Fee | Ministry of Economy and Finance | Agents, brokers and loss adjusters are required to pay fee for the license of as mentioned in Art. 8 of this Prakas. | - | Prakas No. 865 on Insurance Licensing to Agent Broker and Loss Adjuster | 23/11/2001 |
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