Khaberni - The Parliamentary Economic and Investment Committee, chaired by MP Khaled Abu Hassan, approved during a meeting held on Wednesday, the Insurance Contracts Law Project for the Year 2025, in the presence of the State Minister for Legal Affairs Fayad Al-Qadi, Deputy Governor of the Central Bank Ziad As'ad Ghanem, President of the Jordanian Medical Association Issa Al-Khashashneh, and representatives of the Lawyers’ Union, the Jordanian Association of Insurance Companies, Traffic Management, Jordan Maritime Authority, and Civil Aviation Regulatory Commission, alongside several relevant entities.
Abu Hassan stated that the approval of the bill's articles came after a series of meetings and extensive discussions, and hearing the opinions of experts, specialists, and comments from concerned parties, emphasizing the committee’s commitment to ensure the law keeps up with economic and legislative updates and promotes a fair and stable investment environment in the insurance sector, serving the public interest.
He explained that the bill aims to update the legislative framework governing insurance contracts, clarify the rights and obligations of the parties involved in the insurance relationship, reinforce the principles of disclosure and transparency, protections for the insured, as well as regulate the insurance market according to the best approved practices, which contributes to enhancing confidence and attracting investment.
In turn, the deputies Huda Nafaa, Abdul Basit Kabariti, Salem Abu Obeid, Musa Al-Wahsh, Mohammad Kataw, and Abdul Halim Al-Ababneh emphasized the importance of the law, considering it a positive step to ensure contract fairness and enhance the rights of the insured.
For his part, Al-Qadi stressed that the government gives special importance to the Insurance Contracts Law Project within its reform programs, affirming that the observations made by the committee members and stakeholders will be taken into consideration, ensuring precise legislative drafting that supports economic stability and boosts confidence in the insurance sector in the kingdom.
