Egypt – Insurance law unchanged during 38 years
Wednesday, 01 31 2018, Category: Insurance and Reinsurance, Country: Egypt
Dr. Adel Moussa the former chairman of Misr Insurance company and insurance expert said that the sector relies on the main legislations: insurance regulations No 10 of year 1981, its amendments with law No 118 of year 2008 related to the supervision of companies including life, property and associated professions such as brokers.
Moreover, Dr. Moussa confirmed in statements to “Alhilal al Youm” that the new law will introduce changes in the insurance sector since the previous law was unchanged for 38 years even through numerous economic factors changed significantly.
He indicated that the new law will encompass new sectors such as health insurance, small and medium sized projects, Takaful and will address professions not previously covered by the law such as insurance experts and loss adjustors.
Source: Alhilal al Youm