CAIRO: The Egyptian Insurance Supervisory Authority (EISA) is set to explore a new bill on national medical insurance, proposed by the Union of Egyptian Insurance Companies.
Adel Monir, chairman of EISA remarked that the new bill sums up the required amendments on the Egyptian medical insurance regulations, such as the creation of a market-motivated medical insurance company and allowing the private sector to operate independent medical insurance businesses. The chairman of EISA pointed out that the new bill will regulate competition between local insurers which forced companies to accept risks largely exceeding their total proceeds of premiums.
The bill should be discussed for three months by local insurers and insurance officials before being presented to the People’s Assembly for approval.
There have been recent calls to revamp the current system’s inability to provide adequate services due to the official disregard of quality standards of medical services.