Regulatory Alerts2016-01-01
Decision No. (730) of 2016 Regarding the Executive Regulations for Standard Insurance Documents Issued and Distributed Electronically via Information Systems Networks (According to Latest Amendment)
The Egyptian Financial Supervisory Authority issued Decision No. 730 of 2016 to establish executive regulations for the electronic issuance and distribution of standard insurance documents via information systems networks. The decision mandates that approved insurers and distribution channels comply with specific general and sector-specific controls, including contract requirements, data confidentiality, anti-fraud measures, mandatory document content, and customer service provisions. These regulations apply to mandatory civil liability insurance for rapid transport vehicles, outbound travel insurance, and temporary life insurance without medical exams, ensuring electronic policies meet legal and operational standards.
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