Factory fire in the Sultanate of Oman shows importance of insurance
Friday, 07 03 2015, Category: Insurance and Reinsurance, Country: Oman
Last Sunday a huge fire erupted in a plastic factory in an industrial zone in Sohar in the Sultanate of Oman which puts an end to 4 years of hard work and successes achieved by the factory.
About the insurance coverage of the factory and its equipment, the factory owner Mr. Khaled said: Unfortunately we do not have any insurance policy, adding that negotiations were made previously with insurance companies and price offers were made. But regrettably the final insurance contract was not signed. He added that that contacts were made with one of the insurance companies in order to sign the insurance agreement on Monday morning but the willingness of God is above everything and the factory burned on Sunday clarifying that insurance coverage proves necessary only at the right moment.
The factory owner called the civil defense to make the insurance policy compulsory with the issuance of the factory license calling for a stringent regulation of factories as well as enforcing safety standards.
Source: Oman Daily