Egypt’s Petroleum Pipelines launches insurance policy tender for assets – sources

Egypt’s state-owned Petroleum Pipelines Co. (PPC) has launched an insurance policy tender among non-life insurance companies operating in the country, said official sources in the insurance sector on Monday.

The one-year term policy will see the coverage of the company’s assets, with a total sum insured up to 2.5 billion Egyptian pounds ($157.9 million), the sources further told Amwal Al Ghad.

The policy also includes coverage of PPC assets and facilities against all damages related to fire and burglary, besides additional risks, they added.

As for the addition risks, they include coverage of fire and explosions 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.