Insurance Authority Implements Mediation Procedure 2081

The Insurance Authority has implemented the Mediation and Arbitration Procedure 2081. The main objective of this procedure is to resolve disputes through the process of mediation and arbitration facilitated by the Authority. The procedure also includes the structure of the committee, its duties, and powers.

Key Highlights of the Procedure:

Committee Structure:

• Coordinator: Chairperson of the Authority.

• Members: Executive Director of the Authority, Head of the Legal and Regulation Division, and Head of the Complaint Division.

• Member Secretary: An officer from the Complaint Division appointed by the Chairperson.

Timeframe:

• If the mediation and arbitration process is not completed within the timeframe set by the Authority, and if there is a reasonable possibility for mediation, the committee may extend the period with the consent of the parties involved.

Duties and Powers of the Committee:

• The procedure outlines the key guidelines that the committee must follow to facilitate dispute resolution effectively.

This procedure is expected to clarify and enhance the mediation and arbitration process conducted by the Insurance Authority, playing an effective role in dispute resolution.