Allianz Insures Cairo Festival City With EGP 800 Mln

Allianz Insurance Company – Egypt signed an engineering insurance contract to insure Cairo Festival City project with value of EGP 800 million for a year, said Ahmed Hassan, managing director of Crescent Insurance Brokerage.

The insurance policy covers the project against risks of executive errors and abrupt and unexpected errors during the execution process as well as third-party liability coverage during contracting process, in addition to the project’s equipments. The policy also covers the costs of removing the debris and establishing the temporary facilities.