News Middle East21 Apr 2021

Egypt:Insurers' federation promotes R&D insurance coverage

| 21 Apr 2021

The Insurance Federation of Egypt (IFE) is calling for increasing awareness of insurance coverage of the potential risks that could result from the research and development process.

In its weekly news bulletin, the IFE says that this is to encourage Egyptian insurance companies to cater to sectors or activities that they have not yet reached previously and to promote R&D to boost the economy, according to a report in Amwal Alghad.

The bulletin says that such insurance is important because, without it, some companies might collapse if their R&D activity failed.

“There is no doubt that research and development is related to a large number of economic and social concepts such as entrepreneurship, creativity, innovation, production, economics and others, and it contributes to supporting the economy and finding sustainable solutions to the problems facing society, and helps improve the level and quality of life,” reads the bulletin.

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