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Thursday 13 June 2024


Thursday 13 June 2024

The CBUAE issues its 2023 Annual Report

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Registration of the insurance consultant (company) in the register

A process to register the company that studies the insurance requirements for its clients, provides advice about the appropriate insurance cover and assists the clients in preparing insurance claims; and receives fees for its services to the clints

 

Target Audience:

​​Consultants - Company

 

Office location: Abu Dhabi/ Dubai

Department/Section: Licensing  division

Contact Person: Licensing  division

Phone: 80042823

Fax: 97125572111

Email: [email protected]

1.Electronically submit the application on the system, by user name and password. In the event that the user is new he shall send an email letter requesting a user name and password

2. Complete the service form and upload it along with the documents in the electronic system

3. The completed application is reviewed and approved

4. The technical staff (key employees) shall be interviewed in the Authority’s headquarters

5. Pay the fees through e-services or through a smartphone application. In case the applicant is applying in person: Payment can be made through the electronic screen at the Customer Service Center in the Authority; and in case of a system breakdown: Payment can be made by e-Dirham or credit card at the Authority

6. The customer prints the Registration Certificate

 

Service Fees:

Fee for the registration of an insurance consultant (companies): AED 7,000 once at the time of the extract printout

Submission of the application electronically or through a smartphone application

Pay the fees

 

Attachments Required

  1. True copy of the duly authenticated memorandum of association and articles of association, in the case of companies

  2. An application by a partner or a key employee of the company for registration in the Insurance Consultants Register, as the case may be

  3. A certificate from the competent authorities that the venture partners or members of the management board or the owner of the company or managers, as the case may be, have never been sentenced with a punishment against moral turpitude and honesty together with a declaration that they have not been declared bankrupt in the past

  4. True copy of the ID, Family Record or passport of each partner

  5. True copy of Family Record and passport of the owner of the company

  6. True copy of the authorization of the manager in charge

  7. Submit an insurance policy in the amount of three million to indemnify civil liability for damage resulting from practicing the profession. The policy must be in the name of the insurance consultant and in favor of the Chairman of the Board of Directors

  8. Names, nationalities, qualifications and experience of the members of the Board of Directors or the Board of Directors

  9. To be a capital owned by citizens by 51%

  10. The conditions and conditions stipulated in Articles (1), (2) and (3) of Article (5) of Resolution No. 12 of 2018

  11. The individual consultant who works for the legal consultant shall have all the conditions stipulated in Article (5) of Decree No. 12 of 2018

  12. * For the insurance consultant the foreign company must submit a certified certificate of its license issued by the competent official authority in the country of registration and any other data and documents required by the Authority

  13. In the event that the applicant for registration and registration is a legal person forgin incorporated in the State, the following conditions shall be stipulated:

  14. (A) be registered in his or her country of origin and licensed as a legal insurance consultant;

  15.  B- To establish a branch within the State

  16. (C) The branch shall have a local guarantor

  17. (D) An insurance consultant shall work for at least one individual who meets all the conditions stipulated in Article 5 of Decree No. 12 of 2018

Estimated time from the submission of the application until the completion of the service:  30 days from the date of submitting the complete application :

Total transactional number

Service Name

Registration of the insurance consultant (company) in the register

Service Category

Insurance Services

Service Type

Companies Business Services

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Last updated on: Friday 24 February 2023

Total visitors 1332