Egyptian Takaful Insurance (Property) has won an insurance policy bid to cover the state-run South Cairo and Giza Mills and Bakeries’ fixed and current assets, according to official sources.
With total sum insured of 300 million Egyptian pounds ($18.6 million), the policy will see coverage of South Cairo and Giza Mills’ fixed and current assets for the financial year 2020/2021, the sources told Amwal Al Ghad on Monday.
The policy will cover all damages related to fire and burglary, besides additional risks that may occur to South Cairo and Giza Mills’ assets, facilities, and premises as well as road, maritime, and cash transports, they added.
As for the additional risks, they include coverage of explosions and fire produced from self-ignition as well as other dangers related to firefighters that face serious risks in their jobs, besides lightning strikes, the sources said.
