Regulatory Alerts2007-01-01
Law No. 72 of 2007 Issuing the Law on Compulsory Insurance for Civil Liability Arising from Accidents Involving Rapid Transport Vehicles within the Arab Republic of Egypt
The Egyptian People's Assembly enacted Law No. 72 of 2007 to mandate compulsory civil liability insurance for rapid transport vehicles operating within Egypt, replacing prior legislation and establishing standardized coverage limits. The law requires vehicle owners to secure policies from licensed insurers, sets maximum compensation at 40,000 EGP for death or permanent total disability and 10,000 EGP for third-party property damage, and mandates direct payment to claimants without prior litigation. It further establishes a government compensation fund for uninsured or unidentified vehicles, outlines insurer recourse rights against negligent insured parties, and imposes administrative fines for non-compliance.
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