Oman: Regulator issues insurance loss assessment rules
Source: Middle East Insurance Review | Oct 2026
The Financial Services Authority (FSA) has issued the “Regulation Governing Insurance Loss Assessment and Estimation Activities”, to reinforce transparency, fairness and impartiality in professional practices.
The regulation also seeks to enhance the reliability of insurance assessment and loss estimation activities and improve the quality of technical reports used by insurance and reinsurance companies in assessing risks and claims and making decisions related to insurance coverage and compensation.
It establishes an integrated regulatory framework for conducting insurance risk assessments prior to the conclusion of insurance contracts and estimating losses arising from insured risks. It sets out the technical and professional requirements to be met by licensed entities, as well as the rules governing their activities and obligations to insurance companies and policyholders.
The regulation also spells out a range of requirements and controls governing the licensing of insurance loss assessment and estimation activities and prohibiting insurance companies from dealing with unlicensed entities. These requirements include legal, financial and professional conditions, as well as competency and experience requirements for personnel engaged in the activity. M