ACAPS publishes new instruction on online insurance sales devices

The new instruction for Online Sales of Insurance Products will take effect on July 1, 2022. Its guidelines aim to facilitate the process of setting up online sales devices by providing players with a clear view of the compliance requirements.

The Authority of Insurance Supervision and Social Welfare has published the new instruction relating to electronic devices for the purchase of insurance products online, which sets out the conditions and procedures that insurance and reinsurance companies, as well as insurance intermediaries and other entities authorized to present insurance operations to the public, must fulfill in setting up an electronic device for the purchase of insurance contracts online.

This instruction, which has been much awaited, allows the setting up of an appropriate framework by clarifying the regulatory requirements relating to this solution, which has been the subject of consultations with the professionals and which will now allow the insured to subscribe according to two options:

The contract is signed online, with an electronic signature by both sides, and the electronic contract must be accessible to the insured at any time and sent to him/her, upon request, within seven days.
The offer is made online and the physical contract is sent to the client for handwritten signature.

The system put in place by the operators must contain the elements relating to the offer, including in particular the identification of the main characteristics of the proposed cover, the period of validity of the offer, and where applicable, the existence of the right of withdrawal and the cost of using the electronic system borne by the subscriber.

It is to be noted that the instruction relating to the electronic devices of online sale of insurance products explains the expectations of the Authority in this matter and takes up the main rules relating to the contracts concluded at a distance provided for by the law no 31-08 enacting consumer protection measures, the Dahir forming the code of obligations and contracts and the law no 53-05 relating to the electronic exchange of legal data as well as some provisions of the law no 17-99 relating to the code of insurances applicable to the online sale

Instruction no P.IN 02/2022 relating to the electronic devices of on-line sale of insurance products