Egypt – Motor and property flood losses not covered
Thursday, 11 03 2016, Category: Insurance and Reinsurance, Country: Egypt
The Insurance consultant Mr. Mohamed el Ghatrifi confirmed that most of the deaths resulting from floods on roads situated in the desert are covered by the civil liability motor compulsory insurance policy. This policy covers death and total disability for an amount of EGP 40 thousand. Moreover, in case of partial disability a fraction of this amount is paid. Additionally, if material damage is caused to third parties, EGP 10 thousand is settled.
He added that this policy does not cover the damage affecting the own vehicle as this will be covered by the natural risk additional cover, which is added to the comprehensive motor insurance contract, indicating that most customers do not buy this additional coverage by choosing only the comprehensive insurance cover.
Source: Al Mal News