Fatoury: Wethaq Takaful Insurance – Egypt Strongly Supports Renewable Energy Projects and Encourages Investment in the Sector

As Reported by Al-Ahram Economic Portal – Written by Ali Qenawy

In line with the company’s ongoing commitment to social responsibility and supporting the Egyptian economy, Adel Fattory, Managing Director of the company and a Board Member of the Insurance Federation of Egypt, has directed all employees to continuously provide full support for the national drive toward transitioning from fossil fuels to clean energy — a vital step in addressing the climate crisis and ensuring a sustainable environment.

As part of this initiative, the company is offering a special 20% discount on insurance premiums, deducted at the time of issuance, for all solar, wind, and hydropower energy projects.

Fattory also noted that the company provides comprehensive and tailored coverage for all types of clean energy projects. This includes insurance for:

• Goods and equipment during importation from abroad (marine or air transport insurance)

• Land transport insurance (domestic/inland transport)

• Construction phase insurance, such as:

  • Contractor’s All Risks

  • Erection All Risks

  • Contractor's Plant and Machinery

• Liability coverages, including:

  • Personal Accident

  • Owner’s Liability

  • Contractor’s Liability

  • Employer’s Liability

  • Motor Third Party Liability

• Operational phase insurance, including:

  • Property All Risks

  • Loss or Reduction of Revenue

  • Motor Comprehensive

  • Machinery Breakdown

  • Equipment and Tools

  • Liability Insurance

  • Personal Accident

  • Fidelity Guarantee

  • Robbery under Duress

This comprehensive insurance offering reinforces the company's strategic role in promoting sustainable development and supporting investment in Egypt’s clean energy sector.