The Central Bank of Jordan is revising the country’s insurance law to regulate the contractual relationship between insurers and the insured, providing a stable legal foundation for these relationships. The move aims to enhance prudent regulation and improve the financial solvency and capital quality of insurance companies. The central bank is also working to address distortions in compulsory motor insurance and develop insurance solutions for natural disasters and climate risks. The governor of the central bank, Dr. Adel Sharkas, emphasized the importance of digital transformation in the insurance sector to enhance customer experience and sector efficiency.
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