Misr Insurance pays $1.35 mln compensations for drugmaker Pharco

The leading insurer in MENA region, Misr Insurance Company, has paid the Egyptian drugmaker Pharco Pharmaceuticals 12 million Egyptian pounds ($1.35 million) in compensation, an official in Misr Insurance announced Wednesday.

Essam Mansour, Misr Insurance’s representative in Alexandria, further told Amwal Al Ghad that the compensation comes after a blaze broke out in one of Pharco’s line productions leading to breakdown in machines and incurring losses.

Misr Insurance seized Pharco’s insurance policy which covers all the risks of fire, burglary, and any other disasters.