The role of the legislations of preventive measures and corrective measures in regulating the insurance business in Iraq applied research in the insurance office and a sample of the Iraqi insurance companies

Abstract

Insurance companies are considered to be the most important institutions in terms of saving pot and safety valve for the economy. Therefore, they must be subject to a proper regulatory system to ensure compliance with the legislations and standards regulating their work and to ensure that their work is carried out in accordance with the legislations and procedures. (26) principles issued by the International Organization for the Supervision of Insurance Companies (IAIS).

The study dealt with preventive measures and corrective measures in addition to organizing the business, its importance and objectives, the international and local supervisory authorities of insurance companies, and reaching conclusions and recommendations.

The practical aspect included the preparation of the examination form which includes a set of instructions and controls for the insurance sector to determine the extent of their application by the supervisory body responsible for supervision and supervision of the insurance companies (insurance bureau) and the research sample represented by the Iraqi insurance company, the National Insurance Company, Insurance.

The research reached a number of conclusions, notably:

1. Non-application of international standards for the supervision of insurance companies 2005 stipulated in the Insurance Law No. (10) for the year 2005.

The research reached a number of recommendations, notably:

2. Implementation of the international standards for supervising the insurance companies stipulated in the law of the Insurance Bureau No. (10) for the year 2005.