Saudi Arabia – Weak people burn warehouses intentionally
Tuesday, 01 12 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
A specialist in the insurance field does not rule out that people described as weak could burn their warehouses in order to secure the liquidity needed to compensate commercial losses.
Similarly to what is screened in drama TV series and what is mentioned by some people “Burn the warehouses” as a reaction to compensate the losses and obtain insurance funds, Mr. Louay Abdo mentioned to “Al Hayat” that some people could burn their warehouses in order to cover their commercial losses confirming that untrue reasons should be investigated in every fire accident occurring in a warehouse.
Mr. Abdo added that “some fire accidents are intentionally triggered since some weak people burn their warehouses on purpose in order to obtain financial liquidity from insurance companies noting that the loss ratio in these accidents often reaches 100%”.
Source: Al Hayat