Regulatory Alerts2016-01-01
Chairman's Decision No. (729) of 2016 Regarding Technological Controls and Information Security Rules for Electronic Issuance and Distribution of Standard Insurance Policies
The Egyptian Financial Supervisory Authority issued Decision No. 729 of 2016 to mandate technological controls and information security standards for insurance companies electronically issuing and distributing standard insurance policies via information systems. The regulation requires all data centers to operate within Egypt, enforces strict server architecture, firewall protections, and access controls, and explicitly prohibits distribution entities from retaining customer data. It further compels comprehensive system logging, five-year record retention, automated backup protocols, and strict privacy safeguards to guarantee operational integrity and customer data protection.
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