The goals of the IID are to:

1. Regulate and oversee the insurance sector to assure its development and to secure an open, safe and transparent financial market

2. Support the insurance industry in protecting individuals and properties against risks for the sake of protecting the national economy and for accumulation and growth of national saving and investing it in support of economic development.

In order to achieve its goals, the IID undertakes actions to:

1. Protect of the rights of the insured and beneficiaries of the insurance business, and monitoring the financial solvency of the insurers for providing a sufficient insurance coverage for the protection of these rights.

2. Raise the performance and efficiency of the insurers and to assure their commitment to the rules of practice and morals of the profession in order to increase their capabilities to provide better services for the beneficiaries of insurance.

3. Provide skilful personnel qualified to practice the insurance business including the establishment of an institute for this purpose.

4. Develop insurance awareness and prepare and publish insurance related studies and research.

5. Strengthen bonds of cooperation and integration with insurance regulative entities on both the Arab and international levels.

6. Perform any other functions related to the insurance sector proposed by the President of the IID and approved by the Minister of Finance for the regulation of the insurance market