The Central Bank of Jordan (CBJ) is preparing a draft insurance law aimed at regulating the contractual relationship between insurance companies and the insured, providing a stable legal foundation for these relationships, CBJ governor Dr Adel Sharkas, has said.
A new fee schedule for doctors for all medical procedures has been approved, providing for the first increase since 2008, Dr Ziad Al-Zoubi, head of the Jordan Medical Association (JMA), has confirmed.
The Jordan Insurance Federation (JIF) held its annual meeting last week to discuss the Federation's annual administrative report for 2023 and review vital issues affecting the future of the insurance industry in Jordan as well as to elect a new board of directors for the coming term.
Fears have been rekindled that private-sector doctors could launch a boycott of insurance companies on 10 June 2024 and accept only cash payments for medical treatment.
Financial experts have warned of the risks to the insurance and financing sectors arising from loans granted to finance Chinese electric vehicles (EVs) imported from free-zone dealers.
The underwriting results of Middle East Insurance Company (MEICO) have been adequate in recent years, as evidenced by a five-year (2018-2022) weighted average combined ratio of 99.6% (as calculated by AM Best), according to the global credit rating agency.
The Central Bank of Jordan (CBJ), in cooperation with the United Nations Development Program (UNDP), has introduced a policy paper and action plan aimed at advancing the insurance sector in Jordan.
Insurance companies have reached an agreement with the Jordan Medical Association (JMA), in cooperation with the Ministry of Health and the Central Bank of Jordan to resolve a dispute related to doctors' fees and confirm the parties' commitment to implementing the agreed-upon protocol.
The proposed extension of social health insurance to the private sector will be postponed until further notice, due to financial concerns, Dr Mohammad Al-Tarawneh, the director-general of the Social Security Corporation (SSC), has announced.
First Insurance Company (SFIC) has achieved a solid five-year (2018-2022) weighted average combined ratio of 95.7%, as calculated by AM Best.