Regulatory Alerts2021-01-01
Decision of the Board of Directors No. 59 of 2021 Regarding Disclosure Rules for Insurance Broker Commissions
The Financial Regulatory Authority issued Decision No. 59 of 2021, which repeals the prior regulation and mandates insurance companies to disclose the value and percentages of basic commissions due to brokers within their standard receipts or payment notices. Companies must retain client-signed copies of these documents in their issuance files to verify receipt, assuming full responsibility for compliance. The decision takes effect the day after its publication in the Egyptian Gazette and on the Authority's official website.
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