UAE: Oman Insurance discusses cladding risk with key clients
Source: Middle East Insurance Review | Dec 2016
Oman Insurance Company (OIC) has brought together a forum of experts to discuss with its key property clients the causes of some recent fire incidents, as part of its risk management initiative.
The discussion also covered the hazards of flammable cladding with a thermoplastic core, its amplification of property loss and damage and ways for maintaining safety standards going forward, said Oman Insurance in a statement.
While the Civil Defence, an emergency management organisation, works on the forthcoming UAE Fire Safety Code, OIC has taken a step towards helping its clients understand the specific hazard that some cladding may present, the different approaches to addressing the tough risk management issues therein and the availability of A2 fire-resistant panels with a stone core that are now compulsory for buildings more than 15 metres tall in the UAE.
Addressing risk managers from key insurance teams across the UAE, different perspectives were shared. Speaking specifically on flammable cladding risk, Mr A M Rao, Group Director, Alubond Global Operation, the largest UAE manufacturer of building cladding panels, shared insights into the nature of cladding risk and the value of maintenance and renovation of existing buildings.
For Mr Christos Adamantiadis, CEO of OIC, the value that such forums bring is distinct. He said: “Risk management is increasingly receiving more attention on the back of global and regional façade fire incidents, and insurers with their experience and links to the right experts in the market can bring tremendous value to clients by bringing forward best practices, examining failures and identifying and bridging gaps effectively.”