{"id":22572073,"date":"2026-05-02T09:10:25","date_gmt":"2026-05-02T06:10:25","guid":{"rendered":"https:\/\/fra.gov.eg\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%b3%d8%aa%d9%83%d9%85%d9%84-%d8%a7%d9%84%d8%a5%d8%b7%d8%a7%d8%b1-%d8%a7%d9%84%d8%aa%d8%b4%d8%b1%d9%8a\/"},"modified":"2026-05-03T15:05:57","modified_gmt":"2026-05-03T12:05:57","slug":"%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%b3%d8%aa%d9%83%d9%85%d9%84-%d8%a7%d9%84%d8%a5%d8%b7%d8%a7%d8%b1-%d8%a7%d9%84%d8%aa%d8%b4%d8%b1%d9%8a","status":"publish","type":"fra_news","link":"https:\/\/fra.gov.eg\/en\/fra_news\/%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%aa%d8%b3%d8%aa%d9%83%d9%85%d9%84-%d8%a7%d9%84%d8%a5%d8%b7%d8%a7%d8%b1-%d8%a7%d9%84%d8%aa%d8%b4%d8%b1%d9%8a\/","title":{"rendered":"FRA Regulates Risk Experts and Loss Adjusters to Finalize Insurance Framework \u2013 Saturday 2 May 2026"},"content":{"rendered":"<p dir=\"ltr\" style=\"text-align: left\"><strong>Dr. Islam Azzam:<\/strong><\/p>\n<ul style=\"text-align: left\">\n<li><span style=\"color: #800000\">New rules aim to boost insurance product efficiency and safeguard the rights of policyholders and beneficiaries.<\/span><\/li>\n<li><span style=\"color: #800000\">A mandatory registry for individuals and firms is now live.<\/span><\/li>\n<li><span style=\"color: #800000\">All practitioners must register via the Electronic Platform for Professionals.<\/span><\/li>\n<li><span style=\"color: #800000\">Requirements include passing specialized examinations and training programs to ensure professional expertise, with a six-month grace period granted for compliance.<\/span><\/li>\n<\/ul>\n<p dir=\"ltr\" style=\"text-align: left\">FRA Board of Directors, chaired by Dr. Islam Azzam, issued Resolution No. 54 of 2026 outlining the requirements, rules, and procedures for the registration and licensing of risk assessment experts and loss adjusters. This move is part of FRA\u2019s broader strategy to complete the legislative and regulatory framework for the insurance sector, issuing executive regulations for the Unified Insurance Law No. 155 of 2024, which places significant emphasis on insurance professions such as actuaries, insurance consultants, and insurance\/reinsurance brokers.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Risk assessment and loss adjustment are considered pivotal insurance professions. Law No. 155 of 2024 dedicated specific provisions to improve and develop this sector in line with global developments. The regulations aim to standardize professional practices to support the overall insurance industry in Egypt.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Dr. Islam Azzam, FRA Chairman stated that the new Resolution completes the regulatory framework for risk assessment and loss adjustment. By establishing rigorous criteria for corporate licensing and individual registration, the framework ensures that only highly qualified practitioners enter the field. This commitment to professional excellence is expected to significantly bolster confidence across the insurance market.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">According to the Chairman, the criteria for the new registry ensure technical competence through mandatory testing and background verification. He underscored that FRA is prioritizing this sector because expert technical reports serve as the primary basis for risk evaluation and loss estimation, two functions that are vital to the integrity of policy issuance and the precise assessment of claims following a loss.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Dr. Azzam pointed out that compliance with these rules will enhance the efficiency of insurance products and safeguard the rights of policyholders and beneficiaries. This is achieved through greater fairness, transparency, and improved accuracy in compensation estimates, which ultimately accelerates the claims settlement process.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">The resolution stipulates that companies operating in risk assessment and loss adjustment must be established as Egyptian joint-stock companies. The issued and fully paid-up capital must not be less than EGP 3 million at the time of incorporation, and the company\u2019s sole purpose must be practicing this specific activity. This ensures the presence of institutional entities capable of providing specialized technical services. Furthermore, boards of directors must include specialized expertise to enhance governance and institutional discipline.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">Under the new rules, individual experts must enroll in a dedicated FRA registry, subject to renewal every five years. The eligibility criteria include a stringent background check for crimes involving breach of trust or financial malpractice. By requiring experts to undergo rigorous examinations and approved training, FRA ensures the industry is supported by a highly competent and technically proficient workforce.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">The resolution mandates that practitioners maintain professional indemnity insurance to provide a robust safety net against potential professional errors. This requirement underscores FRA\u2019s strategic commitment to balance sector growth with the rigorous protection of consumer rights.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">The resolution establishes a rigorous code of conduct and professional standards, centered on the principles of integrity, impartiality, and independence. Furthermore, it mandates that all technical reports be evidence-based, grounded in documented data and objective scientific methodologies to ensure the highest level of accuracy.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">In line with FRA\u2019s digital transformation strategy, the new resolution requires experts to register on the Electronic Platform for Professionals. This platform is dedicated to the electronic registration, renewal, and data modification for all insurance practitioners, aiming to enhance transparency and ease of access to information during regulatory oversight.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">In the event of violations, the resolution grants FRA the authority to take administrative measures ranging from warnings to de-registration in cases of fraud, gross negligence, or the falsification of essential data.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">To ensure seamless business continuity across the sector, experts currently registered with the FRA are granted a six-month transitional period to align their operations with the new regulatory requirements.<\/p>\n<p dir=\"ltr\" style=\"text-align: left\">These measures follow a series of recent regulatory milestones, including the oversight of foreign non-resident reinsurance brokers (Resolution No. 158 of 2025 with a compliance deadline of July 10), insurance consultants (Resolution No. 25 of 2026), and actuaries (Resolution No. 56 of 2026). Collectively, these initiatives underscore the Authority\u2019s overarching mission to strengthen the regulatory and legislative framework, ultimately fostering a more resilient and stable insurance market.<\/p>\n","protected":false},"author":124,"featured_media":22572007,"parent":0,"template":"","format":"standard","categories":[142,144],"tags":[3791,3813,3910,4806,4807,4808,4809],"fra_news_taxonomy":[2137,2138],"news_paper_taxonomy":[],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news\/22572073"}],"collection":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news"}],"about":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/types\/fra_news"}],"author":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/users\/124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media\/22572007"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=22572073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=22572073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=22572073"},{"taxonomy":"fra_news_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/fra_news_taxonomy?post=22572073"},{"taxonomy":"news_paper_taxonomy","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/news_paper_taxonomy?post=22572073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}