Egypt – A call for factories adopt safety standards
Tuesday, 04 19 2016, Category: Insurance and Reinsurance, Country: Egypt
Mr. Essam Mansour head of the Fire Committee of the Insurance Federation of Egypt confirmed that the committee studied “distribution” costs in the fire insurance branch and found that the commission percentage is very high. At the same time the relationship between insurance companies and customers deteriorated because of irregularities and competitive underpricing.
Mr. Mansour said also that some companies delay the amounts due to customer for administrative reasons, which affects negatively the image of the insurance sector. Concerning the recurrent fire accidents caused by natural risks, 22 thousand policies are said to have been affected.
He also said that a number of fires have been caused by weak safety standards.
Source: Veto Gate