The technical and legislative framework for insurance contracts

Description

The Technical and Legislative Framework for Insurance Contracts program is designed to provide participants with a comprehensive understanding of the concept of insurance from its legal aspects, grasping the legal principles governing insurance contracts and the mechanisms for drafting their documents, while distinguishing between general and specific terms, both explicit and implicit. The program also clarifies the differences between commercial insurance contracts and Takaful , and identifies the legal mechanisms available for resolving disputes between the insurance company and the client, starting with filing a complaint with the Financial Regulatory Authority, through dispute resolution and arbitration committees, and finally to the courts, outlining the jurisdiction of each entity.

Objectives of the Technical and Legislative Framework for Insurance Contracts Program

To understand the legal and technical principles governing insurance contracts.
To understand how to draft insurance contracts in accordance with regulatory controls.
To understand the terms governing insurance contracts.
To understand the regulatory requirements for approving financial products.
To understand how to handle disputes submitted to the Financial Regulatory Authority.

Target Audiences for the Program

Product Development – Underwriting – Claims – Reinsurance – Obligations – Risk Management – Legal Affairs – Pools – Customer Service

Key Themes of the Technical and Legislative Framework for Insurance Contracts

Part One

Legal and Technical Principles Governing Insurance

• Principle of Indemnity
• Principle of Utmost Good Faith
• Principle of Insurable Interest
• Principle of Participation in Insurance
• Principle of Proximate Cause
• Principle of Subrogation

Drafting an Insurance Contract

• Elements, Conditions, and Foundations of Insurance Contracts
• Characteristics of an Insurance Contract
• Insurance Contracts in Civil and Commercial Law

Governing Terms of Insurance Contracts

• Nature of General and Special Terms
• Requirements and Undertakings
• Exclusions
• Appendices

The fundamental differences between commercial insurance and Takaful insurance

Part Two

Regulatory requirements for approving financial products

Mechanisms for protecting insurance clients

• Complaints to the Financial Regulatory Authority
• Dispute Resolution Committee
• Courts
• Arbitration

Part Three

Workshop

Introduction to Arbitration and its Role in Dispute Resolution – Presented by:
The Egyptian Center for Voluntary Arbitration and Non-Banking Financial Dispute Resolution