Egypt – Compulsory insurance recommended for shops
Monday, 05 23 2016, Category: Insurance and Reinsurance, Country: Egypt
The general committee of fire insurance at the Insurance Federation of Egypt recommended compulsory insurance to be implemented on commercial shops through and which would be controlled by the government authorities responsible about licensing these facilities.
The vice-president of the committee Mr. Waleed Sayid Mustafa said that the “Fire” committee recommended insurance against fire risks, theft and additional risks in additional to natural risks such as earthquakes.
He added that the committee found out that the fire accidents that happened lately in Egypt were caused mainly by short circuits due to additional pressure.
Source: Al Borsa