EIBA Discusses Final Reforms On The Unified Contract

Egyptian Insurance Brokers Association (EIBA) has made some reforms on the unified contract in its first meeting yesterday.

Under the new reforms, brokers are given the right to request a list of the reinsurers of the insurance policy they broker, receive a copy of the inspection report and assign an expert to estimate possible damages and risks as long as it is executed in cooperation with insurance companies, said Adel Shaker, chairman of EIBA.

The new contract is divided into 10 articles by Insurance Federation of Egypt and was sent to the Egyptian Financial Supervisory Authority to be discussed in 15 days.