Egypt – Solutions to limit motor insurance losses
Saturday, 04 15 2017, Category: Insurance and Reinsurance, Country: Egypt
Mr. Ahmad Abul Aynain, manager of the claims department at Delta Insurance clarified that the current condition of the motor insurance market necessitates solutions not only to compensate losses but to also achieve profits.
Moreover, Mr. Abul Aynain confirmed that it is not sustainable to charge the customer with a 25% increase in premium rates or imposing a 50% deductible of the claim amount in case the insured vehicle is stolen, indicating that these are only temporary solutions for the current situation.
Source: Dostor Newspaper