MoI And Insurance Regulator Intensify Oversight To Enforce Sector Compliance

Kuwait’s Ministry of Interior and the Insurance Regulatory Unit have agreed to strengthen oversight of the insurance sector through closer coordination and joint inspection campaigns aimed at identifying violations and enforcing compliance with the country’s insurance regulation law, its executive bylaws and related legislation.

At a coordination meeting, the two sides discussed measures to ensure adherence to the insurance regulation law, its executive bylaws and related legislation. They agreed to step up cooperation to detect breaches by insurance-sector employees and take appropriate legal action against those found responsible.

Insurance Regulatory Unit Chairman Mohammad Al-Otaibi said the unit had recently identified violations of its decisions and other applicable laws and regulations. He stressed that the authorities would impose the legally prescribed measures and penalties on anyone found breaching the rules or attempting to circumvent them, regardless of their position.

Brig Gen Abdulaziz Al-Omar, chief of the Interior Ministry’s Security Directorates Affairs Sector, said the ministry would take the necessary action against substantiated violations. The measures would seek to ensure compliance with the laws and decisions governing the insurance industry while preventing any disruption to public order.

Both sides also emphasised that insurance companies must ensure their employees comply with all applicable legal and regulatory requirements. They said effective oversight and corporate responsibility were essential to protecting customers’ rights and maintaining the integrity and stability of the insurance market.