41% of Egyptian SMEs do not have insurance policies

The Egyptian Center for Economic Studies has recently conducted a survey on the insurance of small and medium enterprises (SMEs) in the country.

According to the survey, the majority of SMEs (56%) have insurance policies while 41% of them have no coverage against risks. The remaining 3% of companies have cancelled their contracts.

The survey results also show that 26% of respondents do not underwrite policies with insurance companies because of their high cost. Approximately 15% of respondents believe that SMEs do not need insurance and 13% of them say they do not trust insurers to provide compensation in the event of a loss.