Egypt – 80% of clients reevaluate their assets
Tuesday, 12 13 2016, Category: Insurance and Reinsurance, Country: Egypt
The manager of the general insurance and property in the Northern area at Misr Insurance Mr. Hosni Musharraf said that approximately 80% of the clients reacted positively to the call to reevaluate their assets since the central bank decided to liberalize the EGP exchange rate in order for insured values included in the contracts to reflect the real economic value (for the insurance of buildings, vehicles, and warehouses, etc).
He added that clients reacted positively given the awareness of the private sector about the importance of insuring the market value of assets in order to guarantee a fair and sufficient compensation when a claim occurs.
Source: Al Mal News