Iraq – call for compulsory insurance law
Tuesday, 03 22 2016, Category: Insurance and Reinsurance, Country: Iraq
The General Manager of Iraq Insurance Company Mr. Abbas Shaheed said that “there is a lack of insurance awareness in Iraq. Furthermore, the Iraq Insurance Company settles the outstanding amounts of banking debts of the insured in case of death”. He emphasized “the necessity of drafting a compulsory insurance law for all citizens noting that his company was able to achieve revenues exceeding 111 billion Dinars during last year 2015”.
He said in a special interview with the “Arabs Today” that the “company is owned by the ministry of finance and is licensed to underwrite all classes of life insurance and non-life according to the standard policies known internationally” indicating that “the company was able after year 2003 to realize its plans most important of which has been rebuilding Iraq as well as the national and human resources.
Source: Arabs Today