Alexandria International Container Terminals Announces Tender To Insure Employees

Insurance companies are competing in a bid to insure the employees of Alexandria International Container Terminals (AICT).

AICT seeks to insure 1000 employees with natural death benefits of EGP 100 million and accidental death benefits of EGP 200 million, sources said.

The life insurance policy will pay EGP 100,000 for natural death, EGP 200,000 for a death due to an accident and EGP 100,000 for permanent total disability. In case of the partial disability, the coverage then will be according to the disability percentage.

The tender requirements include premium payment over four terms a year. Offers shall be submitted not later than April 17th. Non-conditional letter of guarantee with 2% of the value of the tender shall be issued for AICT.

AICT announced that it has the right to reject any offer without giving any reasons. The offer shall be submitted within 120 days at most from the date of receiving the tender.