Regulatory Alerts2017-01-01
Decision No. 79 of 2017 of the Financial Regulatory Authority Board Amending Decision No. 132 of 2015 on Electronic Issuance of Standard Insurance Policies
The Financial Regulatory Authority of Egypt issued Decision No. 79 of 2017 to amend Decision No. 132 of 2015 governing the electronic issuance and distribution of standard insurance policies. The amendment replaces Article Five with a strict compliance clause requiring that no disciplinary measures or penalties under Insurance Law No. 10 of 1981 be pending against the company or its actual manager, unless the underlying causes are resolved, the penalty is fully served, and a minimum of three months has elapsed. Approved by the Board of Directors on June 6, 2017, the decision takes effect the day after its publication in the Egyptian Gazette and on the Authority’s official website.
Share