Regulatory Alerts2021-01-01
Chairman's Decision No. 2143 of 2021 Amending Decision No. 902 of 2016 on the Definition of Micro-Insurance and Executive Controls for Electronic Issuance and Distribution
The General Authority for Financial Supervision issued Chairman's Decision No. 2143 of 2021 to amend the policy value cap under Decision No. 902 of 2016, establishing a maximum limit of two hundred thousand Egyptian pounds for micro-insurance policies. The decision updates the executive and technological controls governing the electronic issuance and distribution of standard insurance policies through information technology networks. Effective upon publication in the Official Gazette, it mandates immediate compliance by relevant insurance companies and regulatory departments to standardize digital micro-insurance operations.
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