UAE implements BOD-49 reforms despite industry concerns

The UAE Insurance Authority (IA) yesterday implemented its delayed BOD-49 reforms to the Gulf state's insurance industry, despite last-minute pleas from the sector for the legislation to be amended or even reconsidered altogether. The "gamechanging" legislation, which introduces a range of requirements for life insurance providers and those advisers who sell their products, has been given a cautious welcome at best from an industry wary it could do more harm than good.  Last week II exclusively reported that a number of key industry figures have called for a last minute changes to the...