Egypt: Govt plans terrorism cover for military & police

Source: Middle East Insurance Review | Oct 2015

Members of Egypt’s military and police forces will receive insurance coverage against terrorism risks under a new law.

Article 54 of the Anti-terrorism Law No. 94/2015 states that army and police officers will be covered against all kind of risks associated with terrorism combat operations. The insurance sector in Egypt will provide the compulsory comprehensive policy and this will be paid from the money confiscated by the state in relation to terrorist activities. The policy covers cases of death or total/partial disability.

The Egyptian Financial Supervisory Authority (EFSA) has started preparing for this new cover with the Insurance Federation of Egypt (IFE). They are presently seeking the necessary actuarial analysis and coordinating with the Defence and Interior Ministries to decide on coverage, premium and other issues related to the individuals covered by the policy. EFSA is looking at setting up a pool for this insurance in the initial stage, Chairman Sherif Samy told news agencies.

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