UAE – “Fire” contract could be part of rent
Monday, 05 07 2018, Category: Insurance and Reinsurance, Country: U.A.E
The executives and managers of insurance companies suggested to include the fire insurance contract applying to the contents of a house and civil liability in the rent contract in light of the weak demand for this product and the low level of awareness in addition to poor marketing for this line of business.
Moreover, they mentioned to “Emarat Al Youm” that most homes are still not covered against fires regarding contents of homes and compensating the affected parties with an alternative home or exceptional situations. They clarified that the fire-related costs increase the financial burden on households. Therefore, these contracts provide basic protection against these risks that could affect households and other parties.
Source: Emarat Al Youm