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  • CL-2.4 CL-2.4 Premiums/Contributions Payments

    • CL-2.4.1

      The insurance broker must immediately notify in writing the insurance firm/Takaful firm if the insurance broker fails to collect the amount due from the concerned clients within the agreed premiums/contributions payment terms dictated by the insurance firm.

      April 2012

    • CL-2.4.2

      Brokerage charged by insurance brokers cannot exceed 15% of the premiums/contributions quoted by insurance/Takaful firms for motor and medical classes of business of direct general insurance business.

      April 2012