The directive from Dr. Mohammed Farid, chairman of the Financial Regulatory Authority (FRA), follows the Unified Insurance Law No. 155 of 2024. The compensation will be paid by the Egyptian Compulsory Insurance Pool for Civil Liability Arising from Rapid Transit Vehicle Accidents.
Farid extended his sincere condolences to the victims'
families and wished a speedy recovery for the injured, according to a
statement. He also instructed the Pool's staff to expedite the processing of
requests from affected families and provide all necessary support to simplify
the documentation process.
The Pool's insurance policy covers deaths and injuries from
car accidents. While fatalities are compensated at 100,000 EGP per case, injury
compensation is determined by the percentage of disability assessed by a
medical commission.
Pool officials affirmed their readiness to assist victims'
families with inquiries and procedures to ensure swift disbursement of legally
mandated insurance amounts. Compensation will be processed once accident
documents are received, reviewed, and the Public Prosecution — currently
investigating the incident — completes its legal classification.
The FRA chairman further tasked Pool officials with closely
monitoring the accident's developments and cooperating fully with the victims'
families to facilitate compensation payments.
The Pool additionally stressed the critical importance of adhering to traffic safety regulations to preserve lives.