Egypt – Actuarial study to expand ins. on road accidents
Tuesday, 08 28 2018, Category: Insurance and Reinsurance, Country: Egypt
The Insurance Federation of Egypt revealed that the cost of road accidents in the world reached 3% of Gross Domestic Product. It expects that it will be the main cause of death in year 2030 if the appropriate measures are not taken.
Moreover, the statement of the federation says that low and middle income countries suffer from deaths related in 90% of cases to road accidents. However, only 54% of vehicles worldwide are covered.
Furthermore, the federation plans to renew its contract with the “General Authority for Roads” adding that the accident committee is preparing an actuarial study to increase the insurance cover of accidents in addition to the insurance of high speed roads.
Source: Al Masdar