logo
logo
logo logo logo logo logo
Saturday, 01 April 2023
20:37
  • About CMA
    About CMA
    Establishment of the CMA Roles and responsibilities Vision & Mission CMA Objectives
    Strategy Board of Directors Executive Management The Organizational Structure
  • E-Services
    E-Services
    Individuals Dissatisfaction of Service Provided By the CMA Appeals Service Vehicle Compensation Value after Total Loss Complaint against company operating in the field of securities Request for compensation from the Injured Assistance Fund Managing vehicle insurance rates
    Corporation Services Internal Auditor Accreditation Application for Adding an Activity Capital Market Institutions SignUp Request Renewal of the license of a company operating in the field of securities (National) Legal Advisor Accreditation Securities Companies Branch License New Request
    Show All Services
  • Awareness Corner
    Awareness Corner
    Photos Videos News Capital Market E-Magazine
    Events Publications FAQ
  • Community Participation
    Community Participation
    E-Participation Policy Social Media Channels Opinions Drafts
  • Legislation
    Legislation
    Legislation Encyclopedia Laws Regulations
    Decisions Circulars
Share With
Home >News >CMA Issues Health Insurance Rules
Listen
print

CMA Issues Health Insurance Rules

07 October 2019

News

 

Al Salmi: The Rules Sets Out the General Provisions and Regulates the Relationship  between the Parties

 

The Executive President of the Capital Market Authority has issued the Rules for Health Insurance No. 78/2019 as continuation of the efforts exerted by CMA in collaboration with the concerned entities to prepare the legislative and regulatory infrastructure for the “Dhamani” schemes of health insurance for the  employees of the private sector, the residents and visitors to Oman.

 

HE Abdullah Salim Al Salmi, Executive President of the Capital Market Authority said the issuance of the decision represents an advanced step in the preparedness of the legislative infrastructure and legal framework and one of the five steps identified by CMA in the preparatory phase of implementation of Dhamani scheme. Al Salmi explained that the health insurance rules means regulating the business of health insurance in Oman by specifying the obligations of the parties in the insurance relationship i.e. insurers, third party administrators, health services providers, the worker and employer.

 

Al Salmi said that the health insurance rules sets out the  regulatory rules and specifies the legal obligations of each of the parties in the insurance process in four chapters on general provisions governing health insurance market, licensing requirements to carry out the business, the obligations of the parties and  a chapter on dispute resolution.

 

On the  key features of the  health insurance rules, Al Salmi said that  insurance companies licensed to carry out the business, health service providers, third party administrators and others will be obliged to implement an electronic link “Dhamani Platform” to cope with the latest technology related to Dhamani  to attain the required benefit from the scheme for added economic value from the insurance market. The rules directs the insurance companies to  retain not less than 40% of the insurance premiums in Oman. As to the license to practice the health insurance, the rules sets out a number of licensing requirements with the aim of creating efficient and highly professionally capable  insurance institutions.

 

Al Salmi expressed his happiness with the level of preparedness of the legislative infrastructure  in the preparatory phase of the health insurance scheme for the employees of the private sector led by CMA in collaboration with the relevant entities. He pointed out to the issuance of the Standard Health Insurance Policy in the first quarter of this year which details the agreement between the insurance company and the insured as well as containing the benefits available through the Dhamani scheme.

 

It is noteworthy that the Council of Ministers has approved  in its session No. 26/2017 assigning CMA to prepare, in coordination with the relevant entities, the legislations required for implementation of  health insurance scheme for the employees of the private sector, residents and visitors “Dhamani”. CMA worked for preparation of implementation of the scheme with the concerned entities such as the Ministry of Health, Oman Chamber of Commerce and Industry, Ministry of Manpower, Public Authority for Social Security, Royal Oman Police and the Oman Insurance Association.





Archives

  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013

Publications +

  • IPOs
  • Insurance Publications
  • Annual Report
  • Insurance Market Review
  • Awareness

CMA Services +

  • Administrative
  • Insurance
  • Capital Market
  • Inquiries & Complaints
  • Job Vacancies (0)
footer-logo sm-m-auto
info@cma.gov.om
Country Code : 00968
Phone (Operator) : 24823100
Download The App
footer-logo sm-m-auto
footer-logo sm-m-auto
footer-logo sm-m-auto
footer-logo sm-m-auto
CMA Sectors
  • Insurance Sector
  • Capital Market
  • Vacancies (0)
Publications
  • IPOs
  • Insurance Publications
  • Annual Report
  • Insurance Market Review
Quick Links
  • Tamkeen
  • Dhamani
  • Annual Report
  • Primary Market Issues
  • General Meetings
  • External Relations
  • Anti-Money Laundering and Combatting the Financing of Terrorism
  • XBRL
Useful Links
  • Local Links
  • Arabics Links
  • International Links
©2019 Capital Market Authority. All rights reseved
About us Privacy Contact Us footer-logo

Choose Color theme

Accessibility Option

Night Mode

Translate This Page

( CMA is not responsible for the translation output by google )

Virtual Tour

We will be happy to know your feedback

Weak
Excellent
This field is required

Thank you for your feedback