The Capital Market Authority has issued a circular  to all insurance companies, brokers and agents urging them to take a number of precautionary measures  as part of the instructions of the Supreme Committee tasked with handling the developments resulting from the outbreak of the new Coronavirus (COVID-19).  CMA called on the companies to adopt e-services in rendering insurance services and avoid direct transactions requiring visits to the offices of the companies, the measures  include:

1. Head office:

-         Suspend all manual services.

-         Close all services counters.

-         Rendering the service electronically only through social media, online through  the internet and smart applications.

1. Advertise to the  policyholders in the electronic media that the company will not be able to receive the clients in the offices  and that the service would be provided only through the electronic media and applications.
2. Documents related to claims would only be accepted electronically.
3. Provide a communication centers working 7/24 to render the various services to policyholders including underwriting, claims, inquiries and support.
4. Provide CMA,  with a work plan to ensure continuity of provision of insurance services easily and continuously.
5. The circular shall have effect as from Monday March 23, 2020
6. Branches of insurance companies, brokers and agents shall implement the instructions of the Supreme Committee in:
7. Creating suitable mechanism for remotely rendering the service
8. Reducing the gatherings of employees during the work (Social Distancing)
9. Limiting dealings in banknotes and use electronic payments.

May the Almighty protects us all.