Regulatory Alerts2014-01-01
Decision No. 18 of 2014 of the Board of Directors of the Financial Regulatory Authority Regarding the Marketing of Insurance Companies' Products through the National Postal Authority
The Financial Regulatory Authority of Egypt issued Decision No. 18 of 2014 to regulate the marketing of standard insurance products through branches of the National Postal Authority. The decision mandates that licensed insurers meet specific financial and compliance prerequisites, including regularized status, adequate technical reserves, and absence of recent regulatory sanctions, before obtaining approval. It further establishes minimum operational controls, contractual obligations, and liability disclaimers to ensure postal branches act solely as marketing venues while the insurer retains full responsibility for claims and policy terms.
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