Official Brokers’ permit revocation

ِDate: 2014/10/02

The Central Insurance of I.R. Iran announced the statistics concerning suspension or revocation of insurance natural or legal brokers’ operation permits until the year 1392 (2013/14).

The Insurance Firms Supervisory General Department announced that 19 insurance brokers’ permit were revoked, 17 of which were natural persons whereas the remaining two were legal.  This indicates 137.5 percent increase in permit revocation over the last year. Besides, 47 percent of revocation was due to lack of adherence to laws and regulations, and 53 percent was owing to personal request.

On the other hand, 14 brokers’ operation permits have also been suspended, 13 of which were natural persons and only one was legal broker. Fifty percent of such suspension was due to non-compliance with laws and regulations and the rest was based on brokers’ own request.  Compared with the year 1391 (2012/13), this implies -17.6 percent difference.

 

 

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