One or more preliminary committees shall be formed by resolution of the Council of Ministers. The committee(s) shall be composed of not less than three specialized members, working full-time if possible, and at least one of them must be a regulatory consultant. The Committee members shall maintain a three-year membership subject to renewal. The committee(s) shall be responsible for:
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| 1. | Settling all disputes arising from insurance contracts, including disputes arising between insurance companies and their clients and beneficiaries of the insurance coverages, or between insurance companies and third party in case of subrogation, and disputes arising between insurance-related service providers and their clients.
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| 2. | Settling all disputes arising among insurance companies, reinsurance companies, and insurance related services providers.
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| 3. | Settling grievances filed against the penalties and actions imposed by the Saudi Central Bank in accordance with Article (19) of this Law, provided that the grievance is filed to the committee within (30) days from the date of notification of action. The committee may issue decisions awarding damages, requesting to revert to the original status or issuing any other decisions as appropriate to protect the rights of the aggrieved.
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| 4. | Looking into decision of license cancellation issued by the Saudi Central Bank.
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