The Financial Regulatory Authority (FRA) is expected to launch today a comprehensive electronic database for the insurance industry, which will include information on both providers and customers, Al Masry Al Youm reports. The piece does not explain who will have access to the database or otherwise outline its purpose, so the options here range from “iScore for the insurance industry” to this becoming the feedstock for a monthly league table as the FRA presently does with the leasing industry. The move will help keep insurance prices fair and transparent while helping curb market manipulation, according to the newspaper, citing a FRA statement that we have yet to see. FRA is planning sweeping overhauls of the insurance industry, primarily through amendments to the Insurance Act. These include making the market more open to SMEs.

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