UAE – Low insurance demand for small and medium-sized enterprises
Thursday, 09 15 2016, Category: Insurance and Reinsurance, Country: U.A.E
“NEXUS” for financial consulting said that small and medium-sized enterprises operating in the UAE and which did not secure sufficient insurance coverage would be exposed to financial problems with dangerous repercussions. The company which is considered to be one of the largest financial consulting companies regionally indicated that numerous small and medium-sized companies in the UAE and the region do not have the protection needed in case of an emergency event.
Experts confirmed that securing the comprehensive coverage of assets is an important issue to ensure sustainability and growth especially given that these companies represent more than 94 percent of companies operating in the UAE and include 86 percent of the private sector workforce in the country. The also contribute to more than 60% of Gross Domestic Product according to the Ministry of Economy.
Source: Al Khaleej