Misr Insurance to cover Engineering Automotive Manufacturing’s assets

Egypt’s state-owned Misr Insurance has won an insurance policy tender to cover Egyptian Engineering Automotive Manufacturing Co.’s assets and facilities, according to a senior official.

Egypt Link Insurance Brokerage had earlier mandated an insurance policy to Misr Insurance to cover Engineering Automotive Manufacturing’s assets and facilities, managing director Yasser Al-Alam said on Sunday.

With total sum insured of around 145 million Egyptian pounds ($8.7 million), the policy will cover risks related to Engineering Automotive Manufacturing’s assets, facilities, workshops, stores, and cars, Al-Alam told Amwal Al Ghad.

“Egypt Link is responsible for the technical management of all insurance policies related to the Engineering Automotive Manufacturing’s employees to cover its assets and facilities,” he said.

The policy includes coverage of Engineering Automotive Manufacturing’s assets and facilities against damages arising from fire, burglary, and additional risks, Al-Alam added.

Also, the policy involves coverage of road transport, dishonesty of trustees, and fleet vehicles against all damages that may occur to Engineering Automotive Manufacturing, Al-Alam said.