Egypt: An insurance scheme for natural disasters
Monday, 08 24 2015, Category: Insurance and Reinsurance, Country: Egypt
In collaboration with insurance companies, the Insurance Federation of Egypt (IFE) plans to establish a regional insurance scheme against the risks of natural disasters.
Operational by the end of 2015, the natural disaster insurance will be offered by local insurers separately from fire and engineering policies.
According to the IFE's reports, delays in the realization of this project are due to the difficulty of collecting information about natural disasters from insurance companies.
The implementation of such a program is an important issue in Egypt. The country is regularly exposed to various natural hazards including drought, earthquakes, floods, landslides and sandstorms.
Source: Atlas Magazine