Fire Insurance Committee Discusses Stock Insurance Conditions
The Fire Insurance Committee of the Insurance Federation of Egypt (IFE) studied in its meeting last week setting conditions for stock insurance without prejudice to fire reinsurance agreements, said Walid Sayed, deputy general manager of Fire Insurance Committee.
The Committee also plans to set regulations for sound underwriting of stock insurance policies to be sent afterwards to the general secretariat of IFE to be approved.
The Committee discussed a study offered by the Egyptian Meteorological Authority (EMA) concerning natural disaster insurance. The Committee also awaits a study on the same matter from the Desert Research Center.
A tripartite committee which encompasses Fire, Reinsurance and Engineering Insurance Committees is assigned to discuss the natural disaster insurance policy.
