Egypt – Agricultural ins. contract to cover natural risks
Saturday, 06 08 2019, Category: Insurance and Reinsurance, Country: Egypt
The Chairman of the Insurance Federation of Egypt Mr. Alaa El Zoheiry told “Al Ahram” newspaper that an agricultural insurance contract would be launched for the first time in Egypt. Therefore, protocols have been signed with countries, which made a great progress in agricultural insurance in order to develop a contract that answers the agricultural needs of Egypt and protects it from natural risks and climate change. To this end, a specialized agricultural insurance committee has been established at the insurance federation. It will learn from the Indian experience noting that Indian agricultural premiums reached USD 5 billion and the market is expected to reach USD 9 billion. An agreement was also signed with the Tunisian insurance federation. Additionally, an agreement will be signed with Morocco for the same purpose.