Egypt – Insurance corporate governance limits risks
Monday, 11 16 2015, Category: Insurance and Reinsurance, Country: Egypt
The Chairman of the Egyptian Financial Supervisory Mr. Sherif S. Samy said that insurance supervision and regulatory authorities from different countries in the world agreed that upholding corporate governance rules at insurance companies and supporting the role of their board of directors is one of the most important areas for risk management in the insurance market.
And the Chairman of Financial supervision added in a statement made on Friday in the concluding pat of the Annual Conferences of the International Association of Insurance Supervisors which was held in Marrakech that the rapid and continuous evolution of information and telecommunications technologies opens up large horizons in the field of easing and distributing insurance policies, which in turn raises new risks which have to be dealt with.
And he also added that “a number of insurance supervisors adopted initiatives to raise awareness, informing insurance customers and receiving complaints, which will rely to a large extent on the internet, social media, and short movies in addition to mobile phone applications”.