Minister of Justice, Counsellor Nasser Al-Sumait, has issued a decision to establish a committee to develop the legislative system for insurance and related legal issues in light of the need to update the legislative framework to keep pace with regulatory and economic developments in the sector.
This is part of a comprehensive plan to modernise economic legislation, enhance the business environment, and provide legal protection for the interests of all parties involved in the insurance sector, reported Kuwait News Agency.
Mr Al-Sumait told the news agency that the committee is tasked with developing an integrated legal system that regulates the rights and obligations of all parties to the insurance relationship following best international practices, thus consolidating justice and enhancing confidence in the national insurance sector.
He added, “The committee will review and evaluate all laws related to insurance and propose the necessary legislative amendments, including preparing draft laws to be presented to the competent authorities."
He explained that the scope of the committee's work includes developing the legislative framework for all types of insurance in force in Kuwait, including compulsory and supplementary vehicle insurance, real estate and movable property insurance, fire and disaster insurance, and civil liability insurance, in addition to other insurance related to life, business, and economic activities.
He said the committee is made up of judicial and other experts, including:
-
Counsellor at the Court of Appeal, Mutlaq Al-Mutairi, who is also chairman of the committee;
-
Counsellor at the Court of Appeal, Ahmad Al-Rashidi, who is vice chairman of the committee
-
Advisor at the Technical Office of the Minister of Justice, Judge Fahad Al-Awadh;
-
Representative of the Ministry of Interior, Brigadier General Khaled Al-Adwani;
-
Representative of the Insurance Regulatory Unit Talal Al-Muharib; Representative of the Insurance Regulatory Unit Dana Al-Kandari; and Committee Rapporteur Hamad Al-Rashidi.