Egypt – Insurance Federation studies model for microinsurance
Friday, 11 25 2016, Category: Insurance and Reinsurance, Country: Egypt
The Insurance Federation of Egypt is currently preparing a unified collective model for the insurance contract between life insurance companies and microfinance associations.
Mr. Hasan Abdul Baki, head of the group life insurance committee in the federation and manager at Misr Life Insurance said that the group life and microinsurance committees are negotiating with representatives of financing associations on the model contract that is being developed.
Mr. Abdul Baki added that this follows a regulatory decision of the Egyptian Financial Supervisory Association that allows the participation of brokers and microfinance associations in the distribution of microinsurance on behalf of insurers through the an electronic system linking the company to the association.
Source: Al Mal News