24 Hrs
Source:
المصري اليوم
Calls for mandatory property insurance after mall fire
Mohamed Mehran, the CEO of Egypt & Middle East Insurance Company, called for the enactment of a law mandating compulsory insurance for properties and liabilities in commercial venues that host large numbers of visitors, such as malls, cinemas, and entertainment centers, in light of the increasing incidents of fires and their significant damages. He explained that the absence of mandatory insurance exposes owners of these establishments to substantial financial burdens and risks of bankruptcy or legal penalties. implementing this law would also help reduce the financial burden on the state and ensure organized compensation for those affected. The proposed insurance cost is relatively limited compared to the amount of financial protection it provides, aiming to safeguard lives and property and to minimize economic losses.
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