IFE Offers Unified Compulsory Motor Insurance Policy

The Insurance Federation of Egypt (IFE) discussed the launch of a unified model of compulsory motor insurance policy to be issued by all insurance companies in Egypt, said Abdel Raouf Kotb, chairman of IFE and managing director of Egyptian Saudi Insurance House.

IFE’s discussed such issue in its board of directors meeting yesterday. The aim of such model is thwarting fraud attempts through watermarking insurance policies, he noted.

It is worth noting that IFE had earlier formed an interim committee to find solutions for preventing the fraud of insurance policies.