Egypt – Contracts adequately covering terrorism
Friday, 09 22 2017, Category: Insurance and Reinsurance, Country: Egypt
The Insurance Federation of Egypt revealed that the insurance of terrorism risk is one of the guarantees offered by insurers and reinsurers in order to compensate the destruction or damages resulting from terrorism.
Moreover, the Federation confirmed that there are different types of insurance against terrorism in some countries especially the ones that witnessed dreadful terrorist events. Terrorism claims can reach millions to billions of US Dollars.
The Insurance Federation of Egypt in collaboration and coordination with the Egyptian Financial Supervisory Authority are working on alleviating the effects of terrorism by studying this problem on a sound underwriting basis.
Source: Veto Gate