Motor Insurance Discusses Customers’ Incurrence Of 25% Of Compensations

The Motor Insurance Committee at the Insurance Federation of Egypt (IFE) plans to discuss an analytical study of the results achieved by motor insurance sectors at insurance companies in 2012, said Wedad Hassan, head of the committee.

This discussion will demonstrate the influence of the committee’s decision applied at the beginning of 2012 stating that the customer shall incur either 25% of the value of compensation or a 50% increase in the charges on stolen cars. Such decision will be extended to 2013 if it has proven to pose positive impact on the sector’s results, she noted.

The committee will also consider the possible methods of developing the personal accident insurance policy in its meeting today. The personal accident insurance policy has not been changed since its launch in 1994. Therefore, the committee decided to update the policy in order to cope with the latest changes in the world.

The committee awaits the Syndicate of Journalists to send it the data required for studying the possibility of issuing insurance policies against risks of journalism.