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Insurance leaders meet families of Menoufia accident victims

Businessmen Team economy 01 July 2025 11:31 PM
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Insurance leaders meet families of Menoufia accident victims

Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), directed the leadership of the Egyptian Compulsory Insurance Pool for Civil Liability Arising from Road Accidents to promptly visit and meet with the families of the victims and injured. Acting on these instructions, Ibrahim Labib, Executive Director of the Pool, along with a number of staff members, visited families in Menoufia Governorate on Tuesday. The visit aimed to assist them in completing the necessary documents required for the swift disbursement of compensation, estimated at EGP 100,000 per deceased individual, in accordance with the Unified Insurance Law issued by His Excellency the President of the Republic.

These visits fall within the framework of the FRA’s directives to expedite the processing of compensation requests submitted by the families of the deceased and injured, and to provide all necessary support to facilitate the documentation process and ease procedures for claimants.

The insurance policy issued by the Pool covers both fatalities and bodily injuries resulting from vehicle accidents. A fixed compensation of EGP 100,000 is granted for each fatality, while compensation for injuries is determined based on the degree of disability assessed by the Medical Commission.

The Authority affirmed that compensation is disbursed exclusively through the Egyptian Insurance Pool, as it is the legally designated entity under the new Insurance Law. The FRA stressed that this matter is a top priority within the framework of a new insurance system aimed at ensuring justice and timely redress for affected families.

Dr. Farid reiterated that his directives reflect a deep commitment to supporting the families of the victims and the injured during this difficult time. He extended his heartfelt condolences to the families and wished a speedy recovery for those injured.