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PIN 5.6.4

Past version: effective up to 04/07/2007
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Expenses incurred in respect of insurance contracts entered into by an Insurer must be treated as payable:

(a) in the case of expenses directly related to the premiums in respect of the contract, at the same time as the premium is treated as receivable; and
(b) in the case of expenses not directly related to the premiums in respect of the contract, at the time the contract is effected.

Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]