17/10/2026
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17/10/2026
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KUWAIT CITY, Oct 17: The Insurance Regulatory Unit (IRU) announced that it had referred three insurance brokerage firms to the Public Prosecution to initiate legal proceedings over suspected violations, reports Al-Seyassah daily. The unit also warned four insurance companies for violating Law No. 125 of 2019 on the Regulation of Insurance, its executive regulations and amendments, and related decisions. IRU explained that the referral of the three brokerage firms is part of its regulatory and legal measures to protect the rights of policyholders, beneficiaries, and market participants, in accordance with the insurance regulation law and its executive regulations.
The warnings issued to the four insurance companies aim to address and rectify their violations, thereby helping them avoid potential suspension measures under the applicable legal framework. The unit emphasized that all companies and entities under its supervision must comply with the law, regulations, and relevant decisions. It reaffirmed its commitment to fulfilling its regulatory role and taking necessary legal action against violations to protect stakeholders’ rights and strengthen compliance and discipline in the insurance market.
In this context, Talal Al-Muhareb, Director of the Legal Affairs Department at IRU, said that protecting the rights of policyholders, beneficiaries, and market participants is the unit's top priority. He explained that this commitment is reflected in the continuous development of regulatory and supervisory frameworks, as well as the issuance of decisions and circulars aimed at safeguarding the rights of all parties and ensuring compliance with applicable legislation. The unit would not hesitate to take the necessary legal measures against any entity found to be in violation of its legal obligations or to have jeopardized customers’ rights, in line with its responsibility to safeguard the sector’s integrity and strengthen confidence in the insurance system.
These measures are part of its ongoing efforts to establish a more disciplined, transparent insurance environment; enhance supervision and compliance effectiveness; and improve professional and regulatory practices in line with international best practices. These actions aim to protect the rights of policyholders and beneficiaries while supporting the stability and sustainability of the insurance sector.
