The Insurance and Social Care Supervisory Authority (ACAPS) announced on Friday the publication of the new instructions related to electronic devices for the online sale of insurance products, which will come into effect on July 1, 2022.
The guidelines for these instructions are intended to simplify the process of setting up online vending devices by providing players with a clear view of the required compliance requirements, ACAPS said in a press release.
The said instructions define the terms and conditions that must be observed by insurance and reinsurance companies as well as insurance brokers and other entities authorized to provide insurance transactions to the public, to create an electronic online sales device that allows the conclusion of insurance contracts adds the same source. « Très attendue, cette instruction permet d’instaurer le cadre adéquat en clarifiant les exigences réglementaires relatives à ce dispositif qui a fait l’objet de concertations avec les professionnels et qui permettra désormais options à l’assuré » ‘Salad. According to the first option, the contract is made online, with an electronic signature of the parties, and the electronic contract must be available to the insured at any time and sent, at his request, within seven days.
For the second option, the offer is made online and the actual contract is sent to the customer for handwriting, ACAPS explains. The system established by the operators shall contain the elements relating to the offer, including in particular the identification of the main characteristics of the coverage offered, the period of validity of the offer and, where applicable, the existence of a right of withdrawal and the cost of using the electronic device borne by the subscriber. Notes ACAPS. The instructions on electronic devices for the sale of insurance products on the Internet clarifies the expectations of Autorité in this area and resumes the main rules regarding remote contracts established by Law No. 31-08 establishing consumer protection measures, the dahir that constitutes the statement concludes to the Law on Obligations and Contracts and the Law No. 53-05 relating to the electronic interchange of legal data as well as some provisions of Law No. 17-99 regarding the insurance law applicable to online sales.