KYC Terms and Conditions

Know Your Customer Form (Natural Person)

By submitting and signing this form, you acknowledge that all information provided in the Know Your Customer (KYC) Form, as well as any other information supplied to Gulf Insurance Group Jordan ("the Company"), is true, accurate, and complete.

The applicant submitting the Know Your Customer (KYC) Form acknowledges that the submission, signing, or receipt of the KYC Form by the Company shall not be construed as acceptance of the applicant as a customer of the Company, nor as acceptance of the applicant for insurance coverage or the commencement of any insurance policy.

The Company advises the applicant to retain a copy of the Know Your Customer (KYC) Form, along with any documents and correspondence exchanged between the applicant and the Company.

In accordance with the laws and regulations relating to Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) applicable in the Hashemite Kingdom of Jordan, Gulf Insurance Group Jordan applies all required due diligence measures to identify and verify the identity of the applicant submitting the Know Your Customer (KYC) Form, the beneficiary, the customer, and any prospective customer, both before and throughout the establishment of the insurance relationship. If the Company suspects that any activity or transaction conducted by the customer, prospective customer, or beneficiary is related to money laundering and/or terrorist financing, the Company shall take all necessary legal actions and measures in accordance with applicable laws and regulations.

If the Company postpones the verification of the identity of the customer, prospective customer, or beneficiary until after the insurance contract is concluded, and sufficient identification documents are not provided within a reasonable time, the Company may refuse to issue or immediately terminate the insurance contract without prior notice. The Company shall complete the required verification procedures before paying any compensation or allowing any rights under the insurance contract to be exercised.

The applicant undertakes to update the information provided in this Know Your Customer (KYC) Form upon the Company's request or whenever any of the information contained therein changes.

I further confirm that all information provided in connection with the insurance policy/service application is true and accurate, and I accept full legal responsibility for its correctness.

By submitting and signing this Know Your Customer (KYC) form, you acknowledge that all information contained herein, and any information provided to Gulf Insurance Group/ Jordan (the “Insurance Company”) is true, accurate, and complete.

The applicant submitting the Know Your Customer (KYC) form acknowledges that the submission, signing, or receipt of this KYC form by the Insurance Company does not constitute acceptance of the applicant as a client of the Insurance Company, nor does it imply acceptance of insurance coverage or the commencement of coverage.

The Company hereby authorizes Gulf Insurance Group/Jordan to inquire into and verify the information provided in this Know Your Customer (KYC) Form, including, but not limited to, the information contained in the Company's Certificate of Registration, Commercial Registration, Professional Licenses, Memorandum of Association, and Articles of Association, through the use of Open Application Programming Interfaces (APIs) available via the Government Service Bus (GSB) or any other means made available by governmental authorities. The Company also acknowledges, agrees, and consents that Gulf Insurance Group/Jordan may retain, store, copy, organize, revise, use, transmit, distribute, display, encode, restrict, erase, amend, transfer, classify, disclose, and otherwise process the Company's data and information for the purposes specified in the KYC Form, the insurance application, the insurance contract and its appendices (if issued), and/or as required by applicable laws and regulations throughout the duration of the business relationship. Furthermore, the Company agrees that such data and information may be shared with reinsurers, reinsurance brokers, and any other relevant parties for the purposes related to the insurance application, the insurance contract and its appendices (if issued), or as otherwise required to fulfill the purposes for which the information was collected.

The applicant submitting the Know Your Customer (KYC) form acknowledges that Gulf Insurance Group/ Jordan has enabled them to become aware of their rights under the Personal Data Protection Law and how to access and amend their data through the Insurance Company’s Privacy Policy published on the following website (www.gig.com.jo). In all cases, the applicant’s signature on this KYC form shall be deemed as prior consent to the processing of the personal data of the insurance applicant and the KYC applicant in accordance with the terms and conditions set forth in this form and as outlined in the Privacy Policy published on the official website of Gulf Insurance Group/ Jordan.

In accordance with the provisions of the laws and regulations related to Anti Money Laundering and Counter Terrorism Financing in force in the Hashemite Kingdom of Jordan, Gulf Insurance Group/ Jordan applies all due diligence procedures for identifying and verifying the identity of the Know Your Customer (KYC) applicant, the beneficiary, the client, and the prospective client, both prior to and during the establishment of the insurance relationship. If the Insurance Company suspects any activity or transaction related to money laundering and/or terrorism financing by the client, prospective client, or beneficiary, the Insurance Company shall take all necessary legal measures.
If the Insurance Company agrees to defer the verification procedures of the identity of the client, prospective client, or beneficiary until after the conclusion of the insurance contract, and the Insurance Company fails to obtain sufficient documentation enabling it to identify such identity within the shortest possible time, the Insurance Company shall refuse to issue the insurance contract or shall immediately terminate the insurance contract without the need for any notice, warning, or judicial ruling. It is noted that the Insurance Company shall complete the aforementioned procedures prior to making any compensation payments to the client or beneficiary or before the client or beneficiary exercises any of the rights granted under the insurance contract—if issued.

The applicant submitting the Know Your Customer (KYC) form undertakes to retain this form and any documents and correspondence exchanged between them and the Insurance Company. The applicant also undertakes to update the information contained in this KYC form at the request of the Insurance Company or in the event of any change to any of the information stated therein.

Compliance with the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS):
The applicant submitting the Know Your Customer (KYC) form acknowledges that all information and documents provided in this form are true and complete and have been submitted in accordance with the requirements of the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS). The applicant agrees that Gulf Insurance Group / Jordan may collect, process, retain, and disclose the required data to the U.S. Internal Revenue Service (IRS), whether upon request or through periodic reporting of such data in accordance with applicable legislation. The applicant submitting the KYC form shall bear full responsibility for any consequences arising from providing inaccurate or incomplete information or from failing to provide the required documents in this regard.