The Egypt Financial Regulatory Authority issued Decision No. 77 of 2025 setting binding rules for how insurance companies and other insurance-sector entities must disclose product terms, manage customer accounts and handle complaints. The framework requires firms to create a dedicated complaints function, maintain detailed complaint records, submit periodic complaint analysis to the Authority, and allows escalation to the Authority when a complaint is not settled internally. The decision applies to all insurers including takaful, medical and microinsurance, medical insurance programme managers, public and private insurance funds, and related professions and activities such as actuarial and insurance consultancy firms, risk assessors, loss adjusters and insurance or reinsurance intermediaries. Product information must be presented in clear language, policy applications and contracts must be precise and non-misleading, and key contractual terms must be disclosed, supported by simplified explanatory materials. Firms must also make prominent disclosures that they are supervised by the Authority and provide the complaints contact channel, while informing customers in writing of their right to complain to the Authority if they reject a proposed settlement. Complaints reporting to the Authority must be quarterly for insurers and semi-annual for related professions and insurance funds, covering volumes, classifications, root causes, outcomes and corrective actions, and complaints may be submitted to the Authority only after required data are completed and lack of settlement is evidenced. A specialised committee within the Authority, chaired by the Authority’s Vice Chairman, must decide qualifying complaints within 30 days of receipt of complete documentation, with final decisions under the Unified Insurance Law.
Egypt Financial Regulatory Authority 2025-10-30
Egypt Financial Regulatory Authority issues mandatory complaints-handling and disclosure rules for insurers and establishes a 30-day dispute committee
The Egypt Financial Regulatory Authority's Decision No. 77 of 2025 mandates insurance companies to follow strict disclosure, account management, and complaint handling rules. It requires a dedicated complaints function, detailed record-keeping, and periodic analysis submissions, with escalation options for unresolved complaints. Applicable to all insurers, it emphasizes clear product information, precise contracts, and customer rights to escalate complaints to the Authority.