Saudi Arabia – The contracting sector addresses insurance
Saturday, 04 01 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Riyadh Chamber represented by the Contractors' Committee organized a lecture addressing engineering insurance, the role of insurance, the wording of insurance contracts applying to contractors, and the conditions imposed by insurance companies in the engineering field. It was attended by contractors, insurance directors and insurance brokers on March 27th at the headquarters of the chamber.
The president of the Contractors’ Committee Eng. Saleh Al Habdan said that the sector of contractors is large and very expensive as it relies on equipment and it is exposed to engineering risks. Therefore, it needs insurance cover to face unexpected risks for all possible reasons indicating that the discussion of the insurance conditions came as a concern of the committee to serve the engineering sector and strengthen its role in economic development and overcome the obstacles that it faces.