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EN-7.1.1

Past version: Effective up to 30 Jun 2007
To view other versions open the versions tab on the right

Under certain circumstances, the BMA has the right to cancel an insurance licensee's license or curtail the scope of its permitted activities. These include cases where a licensee has:

(a) contravened the conditions of its license;
(b) fails to start business within six months from the date of the license;
(c) ceases to carry out the licensed activity in the Kingdom; or
(d) grossly violated the provisions of the Insurance Legislation and Rulebook.