The Insurance Federation of Egypt expects to set up a natural disaster insurance scheme in the country by the end of 2015 and is rallying the country's insurers for the same, Middle East Insurance Review reported citing Sadda news website. The scheme would provide cover against risks like earthquakes. IFE chairman Abdel Raouf Kotb said that he had suggested that disaster insurance should be offered by insurers as a cover separate from fire and engineering policies. Difficulty in gathering information from insurers regarding natural disaster events is delaying the establishment of the scheme, said Mr. Kotb. Read more
The Insurance Federation of Egypt has announced it is to create a natural disaster insurance scheme by the end of the year in the country, and is calling on the country's insurers to do the same. Egypt is especially vulnerable to earthquakes and flooding as it is located near three major plate boundaries.