Legislation governing the insurance business in Egypt

Legislation governing the insurance business in Egypt             

• Law of the control and supervision of insurance
• Regulations for the Law of the control and supervision of insurance
• The law regulating the control over markets and non-bank financial instruments
• The Statute of the Public Authority for Financial Control
• Civil law
• The maritime trade law
• Arbitration Act in Civil and Commercial Matters
• Traffic Law
• The law of compulsory insurance of civil liability arising from accidents rapid transit vehicles
• Construction Law
• The Statute of the Insurance Federation of Egypt 

Law of the control and supervision of insurance number (10) for the year 1981, as amended,

Law No. (92) of 1939 as the first legislation in Egypt, particularly supervision and control of insurance entities as soon as the abolition of foreign capitulations, followed by Law No. (156) of 1950 to supervise, control bodies and the formation of insurance money and then issued the law No. (195) for the year 1959 passed a law bodies Insurance In 1975, Law No. (119) for the year 1975 and issued in 1981, Law No. (10) for the year 1981 supervision and control of insurance in Egypt, which was amended by Law No. (91) for the year 1995 and Law No. (118) for the year 2008

Regulations for the Law of the control and supervision of insurance and its amendments:

In 1996 a decision was Minister of Economy and International Cooperation No. (362) of 1996 issuing the Regulations on the Law of the control and supervision of insurance in Egypt, promulgated by Law No. (10) for the year 1981, and amended several times, most recently under the decision of the Minister of Investment No. (245) for the year 2008 

The law regulating the control over markets and financial instruments of non-bank number (10) for the year 2009:

at 25/2/2009 Law No. (10) for the year 2009, under which created the Egyptian Financial Supervisory Authority, which specializes in control and supervision of markets and non-bank financial instruments, including capital markets, and futures exchanges and the activities of insurance, and real estate finance, leasing, and factoring and securitization 

Regulation of the Egyptian Financial Supervisory Authority.

Under Presidential Decree No. (192) for the year 2009 issued the Regulations of the Public Authority for financial control defined terms of reference of this body 

Civil Code No. (131) of 1948

Law systems of cities d insurance contract provisions and in Chapter III of Part IV thereof, and as follows: 

Chapter III: the insurance contract 

1. General Provisions
2. Some types of insurance
3. Life insurance
4. Fire Insurance 

The maritime trade law No. (8) for the year 1990

Systems in the maritime trade law provisions from Part V of marine insurance and so on as follows: -- 

Part V: In marine insurance

Part I: General Provisions

Chapter II: special provisions for certain types of marine insurance

First: The insurance on the ship

Second: Cargo Insurance

Third: liability insurance 

Arbitration Act in Civil and Commercial Matters No. (27) for the year 1994

Based insurance companies in the arbitration clause attached to insurance contracts to the various provisions contained in this Act

Traffic Law No. (66) for the year 1973

Condition of traffic law No. (66) for the year 1973, as amended last by Law No. (121) for the year 2008 in paragraph (2) of Article (11) of which insurance against civil liability arising from vehicle accidents, and all the physical damage resulting therefrom, to third parties except damaged vehicles and that the duration of the license, or control in accordance with the provisions of the relevant law and in accordance with the terms of the insurance policy " 

The law of compulsory insurance against civil liability arising from the incidents of highway transport vehicles (72) for the year 2007

Included the provisions of the Code compulsory insurance against civil liability arising from accidents rapid transit vehicles, all the document for compulsory insurance against civil liability arising from accidents such compounds

Construction Law promulgated by Law No. (119) for the year 2008

Included the provisions of the Building Act liability insurance on the dangers of construction work

The Statute of the Insurance Federation of Egypt decision of the President of the Egyptian Authority for Insurance Control Number (288) for the year 2008

Based on the said provisions of law No. (118) for the year 2008 was the Union`s Statutes of the insurer under the Egyptian president`s decision to the Egyptian Authority for Insurance Control Number (288) for the year 2008, under which the membership of the European mandatory insurance companies, reinsurance and insurance associations licensed to operate in Egypt , and the objectives that the Union is trying to achieve to raise the level of the insurance industry and insurance professions associated with them, update and consolidate the concepts and norms of insurance work, and put the correct codes and ethics of the profession