Misr Insurance Paid EGP 150 Mln Benefits For Stolen Vehicles In October

The total value of benefits paid by Misr Insurance Company to the owners of the cars stolen in October reached EGP 150 million, said Ahmed Aboul Enein, head of Motor Insurance Sector at the company.

Such benefits went to the owners of 68 vehicles stolen in October, he noted, adding that the rate of stolen vehicles dropped as the number of stolen vehicles last September were 123.

The Motor Insurance Committee of the Insurance Federation of Egypt has studied and discussed the statistics of stolen vehicles in 2012. The committee will decide whether to extend the implementation of regulation no.52 issued at the beginning of 2012, which states that the customer shall incur either 25% of the value of car compensation or a 50% increase in the charges of car thefts, for another term or not.