UAE: Insurance Authority supports protection for the energy sector
Source: Middle East Insurance Review | Jun 2019
The UAE Insurance Authority (IA) has signed an agreement with the 24th World Energy Congress to sponsor and exhibit at the event, aiming to educate attending energy stakeholders on their responsibilities and rights when buying insurance.
“We are proud to participate in the Abu Dhabi World Energy Congress 2019 and to sponsor this global event, which will provide an opportunity to inform the participating delegations and international companies of the comprehensive development of the UAE, the advanced economic growth and the rich investment opportunities that the UAE has in the energy sector and other economic sectors,” said IA director-general Ebrahim Obaid Al Zaabi.
“By hosting this event in Abu Dhabi, the IA seeks to highlight the potential of the UAE’s insurance market and its global leadership position, which has made the state’s markets a regional centre for international insurance companies and for the provision of different insurance services,” he added.
“The energy sector is one where adequate insurance coverage is critical to protect organisations against unforeseen events. The congress aims to bring together the global energy sector and the aligned sectors that make up the energy ecosystem. Insurance is certainly part of that ecosystem, and we welcome the support of the IA which will bring insight into this crucial area,” said Dr Matar Al Neyadi, undersecretary at the UAE Ministry of Energy and Industry and chairman of the congress’ organising committee.
The congress, to take place on 9-12 September at the Abu Dhabi National Exhibition Centre, will be held under the patronage of the president of the UAE Sheikh Khalifa bin Zayed Al Nahyan. M