Khaberni - The House of Representatives began, on Monday, a legislative session to complete the discussion of the agenda of the eighteenth session.
The council initiated the discussion of the Insurance Contracts Bill for the year 2025.
The project aims to enhance transparency and fairness in the relationship between insurance companies and citizens, ensuring the protection of the rights of the insured by obligating insurance companies to respond to requests within only 10 days, and preventing the imposition of unfair or vague conditions.
It also contributes to stimulating investment and supporting the national economy by providing an advanced legislative environment, alongside addressing negative phenomena such as the purchase of "crooks" and criminally criminalizing it and imposing clear penalties.
The bill aims to enhance confidence in the insurance sector and to achieve the principle of fair compensation that protects the rights of all parties and ensures that contract terms are clear, simple, and interpreted in the insured's favor in case of any ambiguity.
The bill specifies the obligations incumbent upon both parties of the insurance contract and clarifies the legal provisions that apply upon its termination based on justified reasons before the expiration of its term and the obligations that ensue for the insurer and the insured, as well as defining the statute of limitations that prevents hearing claims arising from the insurance contract, the cases in which this limitation is interrupted, and the date on which the right arises for the insurer and others to file claims.
