Around 37,000 optional insurance policies have been issued to Egyptians working and residing abroad since the upgraded personal accident insurance policy came into effect at the beginning of August, with total premiums reaching approximately LE14.8 million, according to figures from the Egyptian Travel Insurance Pool.
The figures reflect growing demand among Egyptians abroad for enhanced insurance protection following the development of the policy under a co-operation protocol between the Financial Regulatory Authority (FRA) and the Ministry of Foreign Affairs.
For the first time, the upgraded policy offers optional coverage against arbitrary dismissal, alongside existing protections.It provides compensation of up to LE100,000 for unfair dismissal, up to LE250,000 for total permanent disability resulting from an accident, and coverage for natural or accidental death, including the costs of repatriating the body.
The annual premium is LE400.Chairman of the Financial Regulatory Authority, Islam Azzam, said the strong demand since the policy’s launch demonstrates the importance of responding to the actual needs of Egyptians abroad and providing comprehensive insurance protection suited to the risks they may encounter in different labour markets.
He explained that arbitrary-dismissal coverage was introduced following requests received by the authority, reflecting its commitment to continuously developing insurance products and regulatory frameworks in response to changing circumstances.
The coverage provides compensation of up to LE100,000 upon proof of termination of employment and deportation for reasons beyond the worker’s control, including mass returns resulting from political or economic circumstances.
Azzam highlighted the Ministry of Foreign Affairs’ role in raising awareness of the upgraded coverage among Egyptian communities abroad.
He noted that the Seventh Conference for Egyptians Abroad, scheduled for next month, will provide an important opportunity to promote awareness of the policy and its benefits.
The authority said developing the policy forms part of its strategy to expand insurance coverage, meet citizens’ evolving needs, and strengthen insurance as a tool for social and economic protection.
