Egypt – Government tackles agricultural insurance
Monday, 11 05 2018, Category: Insurance and Reinsurance, Country: Egypt
The government currently studies agricultural crop insurance by coordinating with the Insurance Federation Egypt, the ministry of agriculture, the business sector and the Egyptian Financial Regulatory Authority in order to expand agricultural crop insurance coverage.
Moreover, the recent potato and tomato crisis raised the apprehensions and concerns of insurance companies that started expanding the issuance of agricultural crop insurance.
Furthermore, Mr. Alaa Al Zoheiri, chairman of the Insurance Federation of Egypt said that agricultural insurance should be a compulsory system for all agricultural systems including crops, livestock, and poultry in order to indemnify farms.
He clarified that the premium can reach 5% of the estimated crop value or livestock value to be covered.
Source: Al Dostor Newspaper