Should insurance contracts be pre-approved by the ICC or other regulatory bodies?

All new insurance contracts or amendments to existing ones must be reviewed by the ICC. Insurance contracts should be worded in Arabic. They could be worded in other foreign languages as well which will be considered the authentic in case of any variances. The Minister of Economy and Trade may exempt some type of contracts from being written in Arabic.

Legal references:
. Insurance Law, article 10
. ICC Guidelines 2288/ICC dated 16/9/2015