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Egypt: Insurers may not compensate blast-affected shop owners in Mansoura

December 26, 2013 - 6:00am


Insurers will not necessarily compensate shop owners who suffered losses because of a recent bomb blast in Mansoura, even if they hold policies, Ahram Online reported.

Abdel-Raouf Kotb, head of the Insurance Federation of Egypt, said those affected by the blast need to have already purchased political violence coverage to obtain compensation. Mr. Kotb said the high price of political insurance in Egypt is due to the high rates foreign reinsurers charge local insurance carriers for coverage.

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