Regulatory Alerts2023-01-01
Chairman's Decision No. 292 of 2023 Amending Decision No. 902 of 2016 on Microinsurance Definition and Electronic Issuance Regulations
The Egyptian Financial Regulatory Authority issued Chairman's Decision No. 292 of 2023 to amend the definition of microinsurance and update executive regulations for its electronic issuance and distribution. The decision formally incorporates licensed telecommunications companies and electronic stores as authorized distribution channels, subject to prior regulatory approval. It mandates strict compliance with actuarial pricing, standardized electronic policy data, quarterly reporting, and dedicated staff training to ensure operational efficiency and consumer protection.
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