Egypt’s Misr Insurance Takaful to cover assets of paper packaging plant in Sadat City

Egypt’s Misr Insurance Takaful has won an insurance policy tender to cover the assets of a paper packaging plant in Sadat City, 94km (58 miles) north of Cairo, according to senior official.

Egyptian International Insurance Brokerage Co. (IIBC) had earlier mandated Misr Insurance Takaful to cover the plant’s assets and facilities, IIBC’s chairman Mohamed Hassan told Amwal Al Ghad on Wednesday.

The one-year term insurance policy is with a total sum insured up to 60 million Egyptian pounds ($3.7 million), Hassan added.

“The policy includes coverage of the plant’s properties and facilities against damages arising from fire, burglary, and additional risks,” he said.

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, Hassan added.