FRA issues regulations for SME reinsurance organizations

The Financial Regulatory Authority (FRA) issued regulations and guidelines for NGOs and civil society organizations selling insurance policies to SMEs and their founders, Youm7 reports. These rules include limiting each licensed NGO to selling insurance policies by a single insurance provider, informing FRA of any changes to reinsurance contracts signed with the main provider, and providing FRA with a quarterly report on its sales. These SME reinsurance organizations have three months to comply with regs, the newspaper says.