Suez Canal Insurance wins a $669k civil liability policy tender

Egyptian composite insurer Suez Canal Insurance (SCI) has won a civil liability insurance tender launched by the General Authority for Educational Buildings, sources with knowledge said on Thursday.

The insurance policy includes civil liability cover for damages occurred to third party due to the insured’s onsite activities, the sources told Amwal Al Ghad.

It also provides liability on the contractors and supervisor engineers at the time of working on the authority’s new buildings and facilities, they said.

The policy tender is with a total sum insured of around 12 million Egyptian pounds ($668,952), they added.

Upon the policy tender, the insured shall pay a maximum of 2 million pounds in compensation for each incident causing property and physical damages, and a maximum of 100,000 pounds for each individual, they said.