The new draft insurance law finalised by the Financial Regulatory Authority (FRA) proposes to make it compulsory for Egyptians to insure against the risk of divorce.
A senior insurance official, who declined to be named, confirmed that there may be noble intentions from the drafters to protect the divorced woman in case of divorce and to ensure that she would receive a sum of money to help her meet living needs.
However, the Bill does not stipulate the beneficiary of the divorce insurance policy, that is, whether it is the husband or the wife. In fact, the Bill raises a number of other questions, such as:
- How will the law deal with cases of divorces that are deliberately to obtain compensation?
- Will non-Muslims be obliged to acquire the insurance policy against divorces?
The annual bulletin of marriage and divorce statistics for 2018 published by the Central Agency for Public Mobilisation and Statistics shows that the number of marriage contracts reached 887,315 in 2018 compared to 912,606 in 2017, a decrease of 2.8%, while the number of divorce certificates reached 211,554 in 2018 compared to 198,269 in 2017, an increase of 6.7%.
The highest divorce rate was recorded in the age group from 30 to less than 35 years, where the number of certificates was 43,314 or 20.4% of the total.
The insurance Bill will be sent to the Council of Ministers after adoption by the board of directors of FRA before it is forwarded to the House of Representatives for debate and approval.