Egypt: Insurers call for study of recent years' terrorist attacks
Source: Middle East Insurance Review | Jan 2018
The Insurance Federation of Egypt (IFE) has issued a report which says that a study is required into the violent wave of terrorist attacks in the country during the past years that differs from the pattern of terrorism that hit the country during the 1980s and 1990s.
The report calls this a qualitative development that requires a different understanding of the structure of militias and armed groups involved and the demands of a confrontation radically different from what existed during the last quarter of the 20th century, reported Vetogate.
“The terrorist attacks during these four years have taken a variety of forms on the ground, targeting the state’s infrastructure, such as electricity, telecommunications, railways and public transport. Security forces, police and army forces, were also targeted, as well as the high rates of use of IEDs as a means of terrorist operations,” said the report.
The IFE in cooperation with the Egyptian Financial Supervisory Authority (EFSA) have worked to mitigate the effects of some terrorist activities, such as developing new insurance coverage, and raising awareness of insurance products and various supplements such as for riots, civil disturbances, labour strikes, the deliberate destruction of property, armed insurrection, revolution or conspiracy, rebellion, military coup, war and/or civil war. The insurance body has held several seminars to highlight the importance of terrorism and political violence coverage.