Submission of insurers’ data via internet

Supervisory authorities have launched an internet platform enabling insurers to enter all data required by the Insurance Commission, the body overseeing their activities. Called Electronic Regulatory System (ERS), this tool will reduce the risk of error and speed up the submission of information as required by the authorities. Insurance companies will be required to transfer their monthly, quarterly, semiannual and annual figures online. In return, each insurer will have the possibility to refer back to the data already processed by the Committee regarding him.