Cairo: Head of the Financial Regulatory Authority (FRA) Mohammed Farid has directed the Egyptian Compulsory Insurance Pool (ECIP) to pay EGP 100,000 as compensation for each death case in the Monoufia road accident.

According to State Information Service Egypt, the compensation is paid under the provisions of Insurance Law No. 155 for 2024, which has been approved by President Abdel Fattah El Sisi. Farid urged the families of victims to apply for the ECIP to get compensation, directing the ECIP officials to simplify procedures to provide the families of the dead and wounded people with all forms of support.

The ECIP stated its commitment to providing all necessary information regarding compensation documents and measures. The body also stressed that it would provide all required support for the injured. The ECIP pledged to swiftly pay compensation to the families of the deceased.