Future project for the establishment of a protection fund for policyholders
The Jordanian association of insurance companies and representatives of companies have met with the vice prime minister of economy and the minister of industry and commerce to discuss the possibility of establishing a protection fund designed for policyholders. This fund shall be granted power of substitution for the insured in a situation of financial difficulties.
The authorities have initiated a reform policy aimed at reinforcing the soundness of the insurance business, encouraging by the same token insurance companies to merge. The first attempt in this direction involved this year First Insurance and Yarmouk.
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