Min Hunna Nabda - "The new insurance policy—terminating the contract before its expiry date and placing it in the hands of the company—is causing controversy."

Our program "From Here We Begin" received an inquiry regarding the controversy surrounding certain articles of the new draft insurance law currently being discussed by the House of Representatives. Among these articles, the following have sparked debate:

Article 96: Subject to any provision in this law:

The insurer may, for justifiable reasons, terminate the insurance contract before its expiry, provided that the insured is notified in writing at least thirty days prior to the effective date of termination, unless a longer term has been agreed upon. The insurer must then refund a percentage of the insurance premium proportionate to the remaining term of the contract.

If the insured requests termination of the insurance contract before its expiry, the insurer is obligated to refund a percentage of the insurance premium proportionate to the remaining term, in accordance with the terms and conditions of the insurance contract, after deducting any expenses, fees, and taxes incurred by the insurer in issuing the insurance contract, unless the insured risk has materialized.

Article 100:

A claim for compensation against the insurer shall not be admissible in either of the following cases:

The insurer is prevented from inspecting the damaged property before any repairs or alterations are made to the nature of the damaged property.

Failure to take the actions stipulated in the regulations and instructions issued pursuant to the Insurance Business Regulation Law and related legislation to settle the claim.

Guest of the episode:

Lawyer Mohammad Al-Shahwan - Insurance Law Specialist

Dr. Mu"ayyad Al-Kloub - CEO of the Jordanian Federation of Insurance Companies

Representative Khaled Abu Hassan - Chairman of the Economy and Investment Committee in the House of Representatives