Monday, April 19, 2021

The Insurance Union issues a new guideline package to cover responsibilities

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The Egyptian Insurance Federation has issued a new package of guiding insurance policies to keep pace with the needs of customers in property and life companies.

Dr. Tariq Saif, Secretary-General of the Federation, said that the new documents included the sports clubs liability document, the comprehensive hotel document, in addition to the establishments civil liability document and the professional responsibility of auditors with the aim of establishing the concepts and customs of insurance work.

During the third session of the third Afro-Asian Insurance Marketing Conference, Saif added that the new products aim to achieve the objectives of the Union and its role in developing and pricing insurance products, issuing guidance documents, as well as raising the level of insurance awareness and working through its various technical committees to discuss all matters of concern to the sector.

According to Saif, the technical committees of the union work to reach new segments of society that do not reach the insurance services, and the union established many new technical committees such as the compensation and risk assessment committee, as well as the agricultural insurance committee, and the committees worked on developing many insurance documents such as the professional liability of doctors.

In a related context, Saif said that the union issued many newsletters that included 182 weekly bulletins to increase insurance awareness on several topics, including sustainability, financial inclusion and others, in addition to 12 news bulletins, translating the report of the micro-insurance network for the year 2020 and developing a guide for underwriting in the fire insurance branch in both Arabic and English. As well as evidence of underwriting in the engineering insurance branch.

According to the Secretary-General, the Union issued controls for dealing with agencies and car showrooms and controls for qualifying inspectors, in addition to organizing insurance awareness campaigns in all media and organizing conferences, seminars and workshops.

He pointed out that the Federation coordinated with the Financial Supervision Authority in establishing the compulsory insurance pool (cars) and a community dialogue on the new insurance law, takaful insurance controls, electronic issuance, sustainability, regulatory compliance index, environmental and governance disclosures, as well as closer cooperation with other bodies and bodies locally, regionally and internationally by signing Various cooperation protocols.

The article The Insurance Union issues a new package of guiding documents to cover responsibilities, it was written in Al-Borsa newspaper.

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