Regulatory Alerts2007-01-01
Decision No. 345 of 2007 on Conditions and Procedures for Paying Insurance Benefits under the Compulsory Civil Liability Insurance Law for Rapid Transport Vehicle Accidents (Law No. 72 of 2007)
The Egyptian Insurance Authority issued Decision No. 345 of 2007 to establish the mandatory documentation and procedural requirements for processing insurance benefit payments under the Compulsory Civil Liability Insurance Law for Rapid Transport Vehicle Accidents (Law No. 72 of 2007). The regulation specifies that death claims require heirs to submit a death certificate, official accident and medical reports, prosecution notifications, and heir notifications, with payouts distributed individually per heir or via a special power of attorney. Additionally, it mandates that permanent disability claims require official accident reports, prosecution notifications, and a stamped Ministry of Health medical report detailing the disability percentage and treatment invoices, while property damage claims require a specialized company surveyor's valuation report.
Decision No. (345) of 2007 Regarding the Method and Conditions for Payment of Due Insurance Amounts In Accordance with the Provisions of the Compulsory Insurance Law for Civil Liability Arising from Accidents of Rapid Transport Vehicles Within the Arab Republic of Egypt, Issued by Law No. 72 of 2007 —————————————————————————————— Chairman of the Egyptian Insurance Authority Having reviewed the Civil Code, The Traffic Law No. (66) of 1973 and its Executive Regulation and amendments thereto, The Law on Supervision and Control of Insurance in Egypt Issued by Law No. (10) of 1981 and its Executive Regulation and amendments thereto, And Law No. (72) of 2007 Issuing the Compulsory Insurance Law for Civil Liability Arising from Accidents of Rapid Transport Vehicles Within the Arab Republic of Egypt, With the approval of the Authority's Board of Directors at its meeting No. (169) held on (25/2/2007), "DECIDED"
Article One To pay the insurance amount in case of death, in accordance with the provisions of the aforementioned Law No. (72) of 2007, it is required that the deceased's heirs submit the following to the insurance company:
- Death certificate.
- Official copy of the accident report and medical report.
- Notification to the insurer by the Public Prosecution regarding the accident.
- Official copies of the notification to the deceased's heirs.
Insurance companies shall issue checks in the name of each heir individually for the amount of insurance due to them, or pay the insurance amount according to each one's share. In case the withdrawal request is submitted through a representative of the claimants, a special power of attorney from the entitled parties specifying the insurance amounts must be provided.
Article Two To pay the insurance amount in case of permanent total or partial disability, it is required that the claimant submit the following to the insurer:
- Official copy of the accident report.
- Notification to the insurer by the Public Prosecution regarding the accident.
- Medical report from the Ministry of Health, stamped with the Republic's emblem, containing a description of the disability condition and its percentage.
- Invoices indicating treatment.
Article Three To pay the insurance amount for damages to property, it is required to submit the following to the specialized insurance company:
- Official copy of the accident report.
- Notification to the insurer by the Public Prosecution regarding the accident.
- Report from the company's surveyor/expert to estimate the value of material damages.
Article Four This Decision shall be published in the Egyptian Gazette and shall take effect from the day of its publication.
Chairman of the Authority (Dr. Adel Munir) Issued on: /2007/ Decision Conditions and Payment Compulsory/Office/Saeed/