The Egypt Financial Regulatory Authority (FRA) announced the close of a two-day interactive workshop on Egypt’s Unified Insurance Law, organised in partnership with the Ministry of Justice through the FRA’s Financial Services Institute. The programme targeted judges and advisers in the economic courts and focused on the insurance sector following the issuance of Unified Insurance Law No. 155 of 2024, described as an overarching legislative framework for insurance-sector legislation. FRA Chair Mohamed Farid presented on the law’s provisions and highlighted the value of exchanging expertise with the economic courts, which adjudicate related disputes. Sessions covered insurance supervision and oversight, procedural and documentary requirements, and technical and legal principles, including practical cases drawn from claims files and disputes. A dedicated discussion led by Financial Services Institute Director Tarek Seif and FRA insurance-sector leadership addressed insurance contract clauses and their application, with participating judges noting that closer cooperation between supervisors and specialised courts could help speed the resolution of insurance disputes given the complexity of insurance contracts.
Egypt Financial Regulatory Authority 2025-01-16
Egypt Financial Regulatory Authority and Ministry of Justice conclude two-day workshop for economic court judges on Unified Insurance Law
The Egypt Financial Regulatory Authority (FRA) concluded a two-day workshop on the Unified Insurance Law No. 155 of 2024, in collaboration with the Ministry of Justice. The event, aimed at judges and advisers in economic courts, focused on insurance supervision, oversight, and legal principles. FRA Chair Mohamed Farid emphasized the importance of expertise exchange to expedite dispute resolution in the insurance sector.