New regulation for insurance intermediaries in Oman

The Omani Capital Markets Authority (CMA) is publishing new texts regulating the brokerage activity in the Sultanate. The new legislation stipulates that the insurance intermediary must receive his commission within seven days following the payment of the premium.

Another novelty is that the debts due by by the beneficiary must not be paid to the intermediary. The insurer remains the sole responsible to the insured, to whom he must pay the indemnities promptly.

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