Egyptian insurance federation activates agricultural cover
Wednesday, 01 13 2016, Category: Insurance and Reinsurance, Country: Egypt
The Head of Accidents Committee in the Egyptian Insurance Federation Mr. Ali Bashandy said that following the announcement of the creation of the agricultural insurance fund by His Excellency Mr. Abdel Fattah Al Sisi, President of the Arab Republic of Egypt it is noted that the fund will have an independent moral authority and will have its own budget set by its board of directors. The surplus credit will be used to accumulate a monetary reserves from year to year. Mr. Abd Al-Rauf Qutb, President of the Insurance Federation of Egypt will assign to the specialized committees of the federation the activation of agricultural crop insurance and other agricultural insurance covers and will start implementation.
He indicated that agricultural crop insurance will protect livestock and agricultural wealth and thus the national economy against losses and volatility that affect livestock and agricultural crops.
Source: Veto Gate