Wethaq Takaful Egypt wins New Beni Suef’s motor insurance policy bid

Wethaq Takaful Insurance-Egypt has won an insurance policy bid to cover fleet vehicles and equipment in New Beni Suef City, 124 km (77 miles) from Cairo, official sources said on Monday.

At a total sum insured of 25 million Egyptian pounds ($1.5 million), the motor insurance policy sees the coverage of 120 cars, owned by the New Beni Suef Development Authority, the sources told Amwal Al Ghad.

“The policy includes coverage of the authority’s fleet vehicles against damages resulted from collision, loss, fire, burglary, theft, and civil liability,” they said.

It will also cover equipment failure against damages raising from fire, burglary, and additional risks, the sources added.