Egypt – Issuance of decennial liability insurance
Monday, 12 07 2015, Category: Insurance and Reinsurance, Country: Egypt
The Head of Accidents Committee in the Egyptian Insurance Federation Mr. Ali Bashandy confirmed that the committee decided to impose restrictions on the issuance of the insurance policies of the Egyptian Decennial Liability Insurance Pool which are underwritten during the construction of buildings and when licenses are obtained.
And Mr. Bashandy said in his statements that the committee decided to take a number of decisions in order to face the environmental, social and economic changes the most important of which is for the office of the Decennial Liability Insurance Pool to be ready to support insurance companies in order to avoid any clash with the Tax authorities.
He added that the insurance policies should not be issued in the name of the office and should be instead issued by the insurers which are members of the pool.
Source: Veto Gate