Adel Shaker, chairman of the Egyptian Insurance Brokers Association (EIBA), said a committee will be formed of representatives from EIBA, the Egyptian Financial Supervisory Authority (EFSA) and the Insurance Federation of Egypt (IFE) to discuss the unified contract of insurance brokerage.
EFSA has recently submitted the unified contract project to the IFE in order to be studied. Abdel Raouf Kotb, the chairman of IFE, will select members to represent the Federation in the committee.
In addition, Shaker affirmed that EIBA will send a delegation of three members to the Mediterranean Federation of Insurance Brokers Conference which will be held on November 9th.
It is worth mentioning that the unified contract will set new conditions for dealings between insurance companies and insurance brokers in order to fill the gaps in the existing contracts.
