Insurers refusing coverage amidst increasing violence in Egypt

Egyptian insurance officials have said the increasing violence in the country has led several insurers to reject coverage related to properties in violence-stricken areas, Al-Borsa reported.

They said the unrest has also resulted in an increase in prices of political violence policies and a revision of terms and conditions during contract renewals. Covering businesses in risky areas could cause heavy losses for reinsurers and can prompt price increases from that segment as well.