Orange Egypt launches property insurance policy, calling for bidders

Orange Egypt has invited insurers to bid for its new insurance policy designed for its properties against all risks, sources with knowledge told Amwal Al Ghad on Thursday.

At a total sum insured of up to 25 billion Egyptian pounds ($1.6 billion), the insurance policy will see cover for Orange Egypt’s properties and assets

The company is calling for financial and technical bids for the policy to be submitted early in March 24, the sources said.

The policy will have coverage for all branches, establishments, and warehouses against risks arising from fire, burglary, natural disasters including explosions, self-ignition, and lightening. It will cover risks for charges imposed by a fire department for their services in fighting a fire.

In addition, Orange’s policy will insure against natural disasters to cover losses, damages arising from earthquakes, storms, volcanoes, floods. It will also cover dangers arising from riots, labour strikes, debris removal, demolition of buildings, leaking plumbing if the leak is sudden and accidental, and aircraft accident, they added.

There will be also collision and political violence coverages, the sources said, referring that the policy would also insure cash transfer.