Circular

No. (2) for the Year 2017 dated: 9/7/2017

Regarding Advertising Guidelines for Insurance Products of Insurance Companies and Cooperative Insurance Associations

In light of the Authority's emphasis on the importance of achieving transparency and clarity regarding all information related to the services provided by entities operating in non-banking financial activities to their clients, and pursuant to Article (48) bis (1) of the Executive Regulations of the Supervision and Control of Insurance Law in Egypt No. (10) of 1981, which stipulates the controls insurance companies must observe in advertising, promotion, and marketing materials for their insurance products and activities to ensure accuracy, clarity, and appropriate disclosure, as well as the Authority's authority to request submission of advertising samples for review prior to publication, this directive is issued to implement the principles of disclosure and transparency, affirm the soundness of insurance practices, and build trust with clients dealing with these companies.

And whereas it has been noted that some insurance companies and cooperative insurance associations are advertising their insurance products in a manner that does not achieve the full and required clarity according to the requirements of Article (48) bis (1) of the aforementioned Executive Regulations.

Therefore, the Authority emphasizes the obligation of insurance companies and cooperative insurance associations to comply with the following:

1. Observing all requirements for accuracy, clarity, and disclosure when preparing advertising, promotional, or marketing materials for their products.
2. Submitting all advertising samples related to their insurance activities, whether (printed, audio, or written, as well as brochures), to the Authority for review prior to publication to ensure compliance with the requirements of Article (48) bis (1) of the Executive Regulations in this regard.

Head of the Central Administration
Affairs, Head of the Authority
Dr. Mohamed Hassan

46076

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