Egypt – Establishing a natural risk pool against earthquakes
Saturday, 08 08 2015, Category: Insurance and Reinsurance, Country: Egypt
Mr. Abd Al-Rauf Qutb, President of the Insurance Federation of Egypt said that he addressed the member insurance companies in the Federations in order to study the issuance of a stand-alone policy against natural risks away from the property and engineering coverages. He also expects to establish a natural risk pool against earthquakes and volcanoes before year-end.
Qutb added that the contribution of companies to the pool will be distributed according to the portfolio of every company clarifying that the problems encountered in launching the pool are due to the difficulties in gathering from insurance companies information about accidents recorded in order to develop a comprehensive strategy.