Insurance Contract Between Theory And Practice

The insurance contract between theory and practice program in light of the unified insurance law is a comprehensive and integrated entry point for the insurance industry in the Egyptian market, aiming to link the technical foundations of insurance operations with the legal frameworks governing them. The program covers all details of the insurance contract from the moment of its conclusion until the fulfillment of obligations, with an intensive focus on the main features of the new unified insurance law (No. 155 of 2024). The program also provides participants with a clear understanding of the fundamental differences between types of insurance (commercial, cooperative, medical, micro) and the governing legal principles that ensure the rights of all parties in the insurance market.

Objectives of the Insurance Contract between Theory and Practice

The trainee should be familiar with the following points by the end of the program:

• The legal and technical concept of an insurance contract.
• The general and specific legal and technical characteristics of the insurance contract.
• The parties to the insurance contract and their legal obligations.
• The conclusion of an insurance contract from both legal and practical perspectives.
• The most important terms of the insurance contract.
• The different types and branches of insurance and their characteristics.
• The general and specific conditions in different insurance policies.
• The difference between commercial insurance and Takaful insurance.
• Mandatory insurance and optional insurance.
• The pillars of the insurance contract.

Target groups of the program

Workers in the reinsurance sector – employees of technical departments (underwriting, issuance, and claims) – the legal department and compliance officers.

Contents of the Insurance Contract Program

Part One

The main features of the institutions engaged in insurance and reinsurance in the Egyptian market

• Insurance and reinsurance companies.
• Takaful insurance and reinsurance companies.
• Specialized medical insurance companies.
• Microinsurance companies.
• Insurance pools.
• Government insurance funds.
• Private insurance funds.

Part Two

Types of mandatory insurance in the Egyptian insurance market:

• Mandatory insurance for civil liability arising from vehicle accidents.
• Mandatory civil liability insurance for construction work hazards.

The technical foundations and basic legal principles of insurance contracts:

• The technical foundations on which insurance is based.
• The legal guaranties for insurance companies to meet their insurance obligations toward their clients.
• The form of the insurance policy, its contents, and its general and special conditions.
• Appendices of insurance documents and their provisions.

Part Three

The legal principles governing the insurance contract:

• Principle of utmost good faith.
• The principle of insurable interest.
• Principle of proximate cause.
• Principle of indemnity.
• The principle of participation in insurance.
• The principle of subrogation in rights.

Part Four

The law regulating insurance activity in the Egyptian market:

• The main features of the Unified Insurance Law issued by Law No. 155 of 2024

Duration of the training program

Two days of training