KSA - SAMA - Insurance-Re-insurance - Outsourcing Regulation - July 2003

Frameworks

Corporate Governance

Kingdom of Saudi Arabia – Saudi Central Bank (SAMA)

If you wish to understand better the Kingdom of Saudi Arabia’s Saudi Central Bank (SAMA – Saudi Arabian Monetary Authority) Corporate Governance Frameworks, specifically the Insurance-Re-insurance – Outsourcing Regulation – July 2003, then please access the following download.

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Kingdom of Saudi Arabia – Saudi Central Bank (SAMA)

Kingdom of Saudi Arabia – Saudi Arabian Monetary Authority – Insurance-Re-insurance – Outsourcing Regulation – July 2003. Covering:

 

Part 1: Introduction

Part 2: Overarching Rules

Part 3: Specific Rules

Section A: Contract Wording

Section B: Policy Holder’s Rights

Section C: Requirements for Material Outsourcing

Section D: Requirements for Overseas Outsourcing

Section E: Control and Monitoring

Appendix:

Examples of Material and Non-material Outsourcing Arrangements

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