Regulatory Alerts2007-01-01
Prime Minister's Decision No. 1828 of 2007 Issuing the System of the Government Fund for Covering Damages Resulting from Accidents of Rapid Transport Vehicles in the Arab Republic of Egypt
The Egyptian Prime Minister issued Decision No. 1828 of 2007 to establish and regulate the Government Fund for covering damages resulting from accidents involving rapid transport vehicles in Egypt. The Fund, supervised by the Egyptian Insurance Authority, will compensate victims in cases involving unidentified vehicles, uninsured vehicles, exempted vehicles, insurer insolvency, or other authority-approved scenarios. It is financed through insurance premium allocations, investment returns, grants, and recovered compensations, with its operations, board governance, financial reporting, and audit procedures strictly defined under the accompanying regulatory system.
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