Egyptian Takaful Insurance to cover Orange Egypt’s assets – sources

Egyptian Takaful Insurance has won an insurance policy bid to cover the assets, facilities, and signal transmission towers of Orange Egypt, announced official sources on Monday.

The one-year term policy is with total sum insured of 25 billion Egyptian pounds ($1.6 billion), the sources further told Amwal Al Ghad.

The insurance policy includes coverage of Orange Egypt’s branches, facilities, and warehouses against damages related to fire and burglary, besides additional risks, they added.

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

“The policy also encompasses coverage of risks arising from natural disasters as well as losses and damages due to earthquakes, storms, volcanoes, floods, and torrents,” the sources concluded.