Wednesday, August 5, 2020
Insurance brokerage commission company (issuance)
- This service for business sector allows establishing an insurance brokerage commission company (issuance).
Eligibility or Criteria
- For the license owner:
- 1. Must be a Kuwaiti citizen
- 2. Must not be less than 21 years old
- 3. Must not be a government employee
- 4. The applicant must be of a good reputation and conduct.
- 5. Must have a guarantee and a contract from the insurance company
- Conditions must be taken in consideration if the license owner is a legal person:
- For the office manager:
- 1. Must have a legitimate residency (copy of the passport)
- 2. Must be free to work full-time at the office
- Experience in Insurance: 5 years for university degree, 10 years for Commercial Institute Diploma, 15 for Secondary School graduates; submitting a proof of such experience
- 4. The academic and professional certificates must be officially attested in Arabic, as per the ministerial decision No. 4 (183).
- 5. Must be of a good reputation and conduct
- 6. If the application is in the name of the company, copies of company license, articles of incorporations and civil ID must be included.
- 1. Lease contract + receipt
- 2. Social insurance certificates
- 3. Copy of civil ID
- 4. Letter from the Ministry of Social Affairs and Labor, if the shop is located in any cooperative society
- 5. Copy of passport of the office manager
- 6. Letter from the Public Authority of Industry, if the office is located in the industrial parcels
- 7. One production contract or more with the insurance company
- 8. Letter from the Public Authority for Social Securities for the manager, if he was a Kuwaiti citizen
- 9. Filling the Issuance form prepared by the Department
Visit the Ministries Complex, Ministry of Commerce and Industry, 2nd floor, 1st block, Insurance Department and submit the required documents.
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