Why do you think these regulations are important enough to warrant these penalties?

Locate a current news article discussing a company violating provisions for health insurance instituted by Saudi Arabia’s Council of Cooperative Health Insurance. What were the violations? How were the companies sanctioned? Why do you think these regulations are important enough to warrant these penalties? (Example: http://www.arabnews.com/saudi-arabia/news/817231)

Be sure to support your statements with logic and argument, citing any sources referenced.