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The government’s resolution on the issue of high-speed vehicles accidents

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    Dr. Mostafa Madbouly, the Prime Minister and the Minister of Housing, Utilities and Urban Communities, issued a decree on the implementation of  financial  provisions of the governmental fund system, that is to cover the damages caused by some accidents of express transport vehicles occurring in Egypt.

The spokesman for the Presidency of the Council of Ministers, Mrs Nader Saad said that the decision of the Fund's system cancels any provision that contradicts the accompanying regulations.

Saad explained that the fund aims to cover the damages of deaths cases and other physical injuries, as well as physical damage to the property of others. The fund excludes cases of the damage of vehicles resulting from accidents of mass transport vehicles in certain cases listed as follows: the lack of knowledge of the vehicle responsible for the accident, vehicle accidents that are exempted from licensing procedures, and cases of insolvency of the insurance company in whole or in part, lastly, other cases issued by a decision of the Board of Directors of the Financial Supervisory Authority.

In reference to the Prime Minister’s decree, Saad pointed that the fund is approved by the General Authority for Financial Supervision and is subject to all provisions governing the governmental insurance funds mentioned in the Insurance Supervision and Control Law in Egypt and its executive regulations. The Fund is eligible for four years under the authority of the current period minister.

This resolution also stipulates that the headquarters of the Fund shall be held Cairo the capital, while other branches shall be authorized in the rest of the governorates. The financial capital of this fund shall be regarded as public cash reserves.