Egypt – Study on a natural risks pool
Wednesday, 05 02 2018, Category: Insurance and Reinsurance, Country: Egypt
Heavy rains and floods have been affecting Egypt for many years including in the Sinai and Red Sea region. It also affected coastal cities such as Alexandria and other cities. The losses triggered hundreds of millions of losses and insurance companies had to compensate these losses according to the insurance covers. However, the largest part of insurance covers had to be borne by the state. Therefore, the Insurance Federation of Egypt requested the creation of a natural risks insurance pools among all companies operating in the Egyptian market.