SFIC, Justice Ministry Discuss Insurance Issues

DAMASCUS, (ST)- The Management of the Syrian Federation of Insurance Companies (SFIC) represented by the President of the Board of Directors Muhannad al –Samman, the Secretary General Eng. Samer al -Ish and the Legal Adviser of the SFIC lawyer Riad Kurdi recently discussed with the Minister of Justice Dr. Najm al-Ahmad the idea of creating insurance courts specialized in insurance issues, the exaggeration in some of judicial decisions and laying  foundations and controls to provisions issued against the insurance companies in order to maintain this important economic sector.

The management also discussed  the presentation of the decision of the Appeal courts for implementation, as the duration of executive notification is five days, while the appeal file won’t be sent  to the Court of Cassation to consider the urgent stay of execution  only after eight days, and so the company has to pay the amounts issued by the appeal court before the Court’s decision becomes final, making the possibility of restoring the amounts paid by the company as difficult and even impossible in the case of reversing the judgment and reducing the amount of compensation by the competent courts.

The Minister called for preparing a thoroughly study within the framework of the legal provisions regarding the points raised to be discussed and the work to implement them according to the available possibilities, showing the ministry’s interest in any proposal that have a positive impact on the development of laws and facilitate the judicial proceedings in order to ensure the rights of victims and insurance companies together.

The Federation, which was founded in 2005, aims to represent the members of the insurance companies licensed in the local market, taking care of their interests and representing them to the other parties in all aspects of the insurance business and strengthening ties among the members.

Sharif al -Khatib