IA suspends UCA from issuing, renewing motor insurance policies

Logo of United Cooperative Insurance Co.

The Insurance Authority (IA) issued a decision to suspend United Cooperative Assurance Co. (UCA) from issuing or renewing insurance policies for all motor insurance products—including comprehensive motor insurance policies—effective today, Feb. 19, 2026.

Th authority cited the company’s failure to exercise sufficient diligence in correcting its situation, which has affected the services provided to policyholders and beneficiaries.

This measure comes in accordance with Article (19) of the Law on the Supervision of Cooperative Insurance Companies, the authority said in a statement.

It emphasized that the suspension does not discharge the company from its obligations regarding active insurance policies or claims arising from them, adding that the company must take all necessary steps to protect the interests of policyholders and beneficiaries.

The authority also noted that this action reflects its commitment to contributing to the stability, regulation, supervision, and oversight of the insurance sector, and to protecting the rights of policyholders, beneficiaries, and stakeholders. It emphasized that the suspension will not be lifted until the company proves it has corrected its situation and complies with regulatory standards and requirements.

It also called on all parties with existing rights against the company to contact the company directly. If there is no response, they may submit their claims through the authority’s official website.

According to Argaam’s data, IA previously issued a decision in October 2025 to suspend UCA from issuing or renewing mandatory insurance policies, including health, vehicle, and domestic worker contract insurance, effective Oct. 27, 2025, due to monitoring several violations related to supervisory and regulatory requirements.