Egypt: Committee formed to promote microinsurance
Source: Middle East Insurance Review | Sep 2018
The Insurance Federation of Egypt (IFE) has announced that a committee has been formed under its supervision with the aim of spreading microinsurance in the Egyptian market.
The panel was formed as a result of coordination and cooperation with the Financial Regulatory Authority (FRA), according to Vetogate. The committee’s membership includes representatives from all stakeholders related to microinsurance and microfinance.
The formation of the committee is also a result of the recommendations of a microinsurance workshop held in 2015 by the IFE and the German Agency for International Cooperation (GIZ).
The Egyptian insurance sector is currently preparing draft amendments to the insurance law and regulations on the definition and operational controls for the issuance and distribution of microinsurance policies electronically. M