- Before choosing an insurance company or one of its branches , make sure it is licensed by the Financial Regulatory Authority to engage in the activity .You can easily verify if it is authorized to operate in Egypt by checking listed companies at FRA’s website (www.fra.gov.eg)
- Before dealing with an insurance broker, ensure they’re properly licensed. Ask to see their “license ,” which is issued by FRA authorizing him to operate as a broker in Egypt.
- Before taking any decision , take some time to explore insurance products and services available at the Egyptian insurance market, browse company’s website and verify all the company’s basic information and data.
- Provide accurate and truthful information about yourself and the things you’re insuring is crucial , thus avoiding the invalidity of the policy and the loss of your right in the future.
- Never sign a blank or incomplete form required for insurance policy to guarantee your rights in the future.
- Read the insurance policy thoroughly and accurately and understand the insurance coverage and policy’s conditions and terms. Also, ensure that the terms regarding loss of rights, cancellation, liquidation, and exceptions are thoroughly reviewed before signing insurance contracts.
- It’s crucial to take some time to thoroughly review you’re your insurance policy after issuance and ensure all the information is accurate, this includes personal data , start and end dates of your insurance coverage, policy’s conditions and description of insured items.
- Knowing what to do after an insured event is crucial to getting the compensation you deserve.
- In addition , avoid issuing a general power of attorney for insurance matters to someone you don’t know well.
