Minister of Emigration and Expatriate Affairs Nabila Makram announced Egypt’s first-ever international insurance policy in a press conference on Monday 27 December.
“The Egyptian citizen, at home and abroad, tops the list of priorities of the Egyptian state in the new republic,” she stated in the presence of a number of members of the House of Representatives and media outlets.
The mechanism will be active by 1 January 2022, granting insurance to Egyptians abroad. The national project is geared towards protecting Egypt’s expatriates, claimed the Egyptian Ministry of Emigration, and will be implemented via the Egyptian Travel Insurance Association.
The Ministry also announced its cooperation with the Financial Supervisory Authority and the Federation of Insurance Companies, in order to simplify the application process.
With a maximum age limit of 65, the insurance policy will cover accidental and unnatural deaths. Any incident should be reported to the Egyptian Pool for Travel Insurance within seven days, with necessary documentation accompanying the claim.
Dr. Mohamed Orman, Chairman of Financial Supervisory Authority, commented that “extending the insurance umbrella to provide protection for Egyptians working and residing outside the country – for the first time – In cases of death, it has long been a challenge to financial oversight and the insurance industry.”
Dr. Orman was quick to add that the implementation of electronic insurance policies has been key to this development; it has provided speed, global accessibility, and streamlined payment methods.
Furthermore, he added the necessity of “raising awareness and publicizing [this insurance development] in order to ensure the simple citizen knows they are available.”
Egyptian expats may register online with the Egyptian Pool for Travel Insurance. There are an estimated 13 million Egyptians abroad, with upwards of 100 million residing locally. Ahram Online reports the increased efforts by government initiatives to encourage expatriate donations to upcoming development projects.