Iraq – Insuring banking ATMs
Friday, 04 14 2017, Category: Insurance and Reinsurance, Country: Iraq
The “Iraqi Insurance Association” which includes all insurance companies operating in the Iraqi market plans to launch a project to insure banking Automated Teller Machines (ATMs) in collaboration with concerned banks. The head of the Iraqi Insurance Association Mr. Abdul Hassan Ziadi said that this is “a leading project in the insurance market and is unprecedented in Iraq” adding that “this insurance will serve citizens by helping expand the ATMs in public places and will serve the national economy”.
Moreover, the insurance expert Mr. Misbah Kamal said that “insurance is an invisible commodity. It is a promise to indemnify the insured in the future in case himself and his family face damages”. He added “most of the people do not look for this promise if they not have the financial resources to buy it and they perceive negatively insurance due to religious reasons. Therefore, we need to increase insurance awreness”.
Source: Al Hayat