Insurance Department concies report

Insurance Department is a newly established administration that commenced its activities within MoF on July 2006, according to the needs of the MoF authorities. Four MoF officials assigned to sever in this department and till now carrying out its obligation.

As the people of the country have no familiarity with insurance culture, so the insurance is at the very low stage and the people not paying their attention towards of insurance, in which the result our country has only two insurance companies at the movement (Afghan Nation Insurance Company and Commission Agent Insurance Company "SISI"), these two are at the very preliminary form. From beginning of this Department till now a number of companies have presented their applications to this Department in order to establish Commission Insurance Companies and among some of them completed to some how their works from which we could named an Iranian, a Libyan and a Turkey company. The activities carried out from the time of establishment till now, are as following.

-          Preparing insurance law which approved through Ministries Consul

-          Providing and approval of Insurance Department procedure

-          Holding three months long training courses (100 hours) in the field of insurance for the staff of Insurance Department

-          Granting professional insurance license to the insurance company of commission "SISI"

-          Taking examination from the commission insurance company

-          Participating at the insurance board relevant sessions

-          Holding insurance concerning press conference for further explanation of insurance aims in Afghanistan

-          Taking part in the two meetings of the treasury department concerning to the life and medical insurance of governmental staff personals, included Military and Public

-          Developing and Designing of insurance supervision department formation

-          Suggesting for the administrative reforms process and formation of Insurance Department

-          Presenting insurance relevant information through MoF web site

-          Developing Insurance Department strategy, aims and purposes

-          Providing procedures for issuing of reforming guidelines, warning notices, pecuniary punishment, suspension and cancellation of performances license, and in case of committing and repetition of actions against insurance and public interest, providing action report the activities of license for the commission agents, insurance companies and insurance representatives

-          Developing assessment procedures for insurance companies

-          Providing license granting procedures for representatives and commission agents

-          Organizing and managing insurance terms glossary

-          Evaluation of the Afghan National Insurance Companies activities

-          Evaluation of the received applications from external companies to get license

-          Providing insurance relevant professional books and distribution to the Insurance Department members

-          Establishing a suitable office for the Insurance Department

-          Establishing an organized filing system for the Insurance Department