Palestine recognition at UNGA, and US envoy says peace an 'illusion'


Yasmeen Altaji
  • English
  • Arabic

France has joined a list of countries newly recognising the state of Palestine. Syria's president called for a new chapter in ties with Washington. US special envoy Tom Barrack has said Middle East peace is an illusion.

On today's episode of Trending Middle East:

UNGA 2025 live: France recognises Palestine at landmark UN meeting

Peace in the Middle East is an illusion, says Trump envoy Tom Barrack

Syria's Al Shara calls for new chapter in US ties as he meets former battlefield foe

This episode features Fatima Al Mahmoud, Foreign Affairs Reporter; and Hadley Gamble, IMI Chief International Anchor.

Editor’s note: We want to hear from you! Help us improve our podcasts by taking our 2-minute listener survey. Click here.

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

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Updated: September 23, 2025, 4:49 AM
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