REGULATIONS FOR SUPERVISION AND INSPECTION COSTS

Release Date:	1430-10-07
Release Tool:	Councils and commissions decisions
Issuance Instrument Number:	430/84
Validity:	Valid
Date of last amendment:	1442-04-11
Summary:	By AI The Regulation on Supervision and Inspection Costs addresses the rules related to the payment of oversight costs for insurance companies and insurance brokers in Saudi Arabia. The regulation includes four chapters, with the first chapter clarifying the terms used. In the second chapter, the regulation specifies the supervision costs at 0.5% of the total written premiums for insurance companies and 1% of the total commissions for insurance brokers. The third chapter sets the payment deadlines, re...

Release Date:

1430-10-07

Release Tool:

Councils and commissions decisions

Issuance Instrument Number:

430/84

Validity:

Valid

Date of last amendment:

1442-04-11

Summary:

By AI

The Regulation on Supervision and Inspection Costs addresses the rules related to the payment of oversight costs for insurance companies and insurance brokers in Saudi Arabia. The regulation includes four chapters, with the first chapter clarifying the terms used. In the second chapter, the regulation specifies the supervision costs at 0.5% of the total written premiums for insurance companies and 1% of the total commissions for insurance brokers. The third chapter sets the payment deadlines, re...