<p>1.&nbsp;Iraqi public companies;<br />2.&nbsp;Iraqi joint stock and joint venture companies; and<br />3.&nbsp;Foreign insurance companies or subsidiaries registered in Iraq.<br /><br />Issuance of a license to conduct insurance services<br /><br />According to the law, granting a license to conduct insurance services requires the following:<br /><br />1.&nbsp;A copy of the insurer's Memorandum of Association and its rules of procedure;<br />2.&nbsp;Type of insurance<br /><br />a.&nbsp;Life insurance - this includes all the insurance which involves human life (or the danger related to human life), temporary insurance as well as postponed insurance;<br />b.&nbsp;Personal injury insurance - this includes the payment of fixed amounts on a regular basis to ensure the insured is covered due an external accident occurs causing the death or disability of the aforementioned; and<br />c.&nbsp;Health insurance - this includes providing specific benefits due to the disability of the insured caused by retaining a particular disease.&nbsp; Further, the Law provides that this shall include the expenses of operations needed because of retaining this disease.<br /><br />3.&nbsp;Branches of insurance<br /><br />There are several branches of insurance available for the use of the public.&nbsp; These include the following:<br />a.&nbsp;Maritime and aviation insurance (maritime and aviation transports both locally and internationally).&nbsp; This includes the mode of transportation as well as money and goods transported, such as the transportation fees as well as ship and plane bodies;<br />b.&nbsp;Insurance against fires;<br />c.&nbsp;Car insurance;<br />d.&nbsp;Engineering insurance - this includes damage to civil engineering projects during implementation, as well as any damages incurred by the machinery and equipment.<br />e.&nbsp;Agricultural insurance;<br />f.&nbsp;Insurance against accidents - this includes the insurance of any accidents not mentioned in the insurance against theft, insurance against fires and any other types of insurancee. <br /><br />It is required that the applying branch of the foreign company should not apply to perform a type of insurance different to that exercised by the parent company; and<br /><br />4.&nbsp;Estimated amount of capital paid.<br /><br /><strong>Conclusion</strong><br /><br />There is room for expansion in the insurance industry in Iraq and within the framework and guidelines provided for by the aforementioned Law.</p>