Cairo Public Transport Authority launches an EGP3bln policy tender for assets

The Public Transport Authority of Cairo has launched a public insurance policy tender among non-life insurance companies to cover its assets, a source with knowledge told Amwal Al Ghad.

With a total sum insured of 3 billion Egyptian pounds ($191,4 million), the policy will cover all the authority’s assets, liabilities and  warehouses against risks related to fire additional risks the sources added.

As for the additional risks, they include coverage of explosions and fire produced from self-ignition, besides other dangers related to firefighters that face serious risks on their jobs as well as lightning strikes.

The insurance policy also encompasses coverage of risks arising from natural disasters as well damages due to earthquakes, storms, volcanoes, floods, and torrents, the sources added