EFSA: 176 Complaints Against Insurance Companies, Govt. Funds In March 2012

The Egyptian Financial Supervisory Authority (EFSA) released its quarterly report that revealed that there are about 176 complaints were submitted to the regulator against insurance companies and government insurance funds by the end of last March. 42 complaints were concluded in favor of the customers, 123 complaints were concluded in favor of the insurers, 12 complaints were dismissed for lack of jurisdiction and 124 complaints are still being studied.

There are 29 complaints submitted against life insurance companies at the end of Q3 in FY 2011/2012; of which 9 complaints were concluded in favor of the customers, 31 complaints were concluded in favor of the insurers, one complaint was dismissed for lack of jurisdiction and 23 complaints are being studied.

There are 147 complaints submitted against non-life insurance companies at the end of Q3 in FY 2011/2012; of which 33 were concluded in favor of the customers, 92 complaints were concluded in favor of the insurers, 11 complaints were dismissed for lack of jurisdiction and 101 complaints are being studied.

There are 10 32 complaints submitted against government insurance funds at the end of Q3 in FY 2011/2012; of which 10 were concluded in favor of the customers, 10 complaints were concluded in favor of the insurers, 3 complaints were dismissed for lack of jurisdiction and 27 complaints are being studied.

The supplemental car insurance sector attracted the most complaints submitted to EFSA at the end of last March as 71 complaints were submitted against supplemental car insurance sectors and 55 complaints were submitted against complementary car insurance sectors. Medical insurance sectors attracted the fewest complaints as four complaints were submitted against the sector.