Our Objective

Our Objective

Palestinian Insurance Federation, who are we?

We are a Palestinian non-profit organization distinguished by independent legal personality which is always striving to achieve the public interest of the national economy through its exclusive representation of the insurance companies operating in Palestine. We endeavor to protect the interests of its members, develop the insurance industry and its regulations and seek to raise insurance awareness   of the public.

Some of the Federations’ most important objectives: -

  • Adopting the foundations of the practice of the profession, urge the members of the Federation to abide by these foundations and monitor their professional behavior in order to consolidate the profession's traditions and ethics.
  • Spreading the insurance awareness and raising the moral values of working in the insurance industry.
  • Standardization of the professional foundations and developing of all kinds of insurance contracts, set tariffs to represent the minimum prices of the optional kinds of insurance in proportion to the international risk grades and prices of insurances after the approval of the Capital Market Authority.
  • Settlement of joint and recovered compensation issues, participation insurances and establishment of a mechanism for the settlement of accounts between the members.
  • Establishing technical insurance gatherings in accordance with the Palestinian market needs after the approval of the Capital Market Authorities.
  •  Coordination between the insurance companies operating on the market, settling the disputes arising between them and establishing the rules and regulations required to achieve this goal.
  • Forming the investigation, arbitration, follow-up committees and endorsing the scientific principles and measures of their proper practice.
  • Increasing confidence in the insurance industry and achieving cooperation and coordination with the official authorities concerned and everyone associated with the insurance sector at the local, Arab and international levels.
  • Holding professional symposia and conferences, conducting scientific researches, preparing statistics and issuing periodicals including the data and information about the Palestinian Insurance market that would serve the public sector.
  • Participation with the official authorities in drafting the insurance regulations required to pass the laws, regulations and decisions which would guarantee the stability of the insurance market, its upgrading and development.
  • Participation in the Arab, regional and international insurance federations in addition to the other relevant bodies and working to organize technical, administrative, legal and financial meetings in Palestine.
  • Participating and cooperating with the General Administration of Insurance in the Palestinian Capital Market Authority and the relevant bodies to establish a specialized institute in the field of insurance in accordance with the provisions of the law.