UAE – Requests for compulsory insurance on buildings
Thursday, 02 25 2016, Category: Insurance and Reinsurance, Country: U.A.E
The Emirates Insurance Association asked for insurance on residential and commercial buildings to become compulsory, confirming that having uninsured buildings is dangerous given that the laws in some countries do not allow renting or living in an apartment unless it is insured.
Moreover, the Association indicated the importance of launching a framework and criteria for the insurance of buildings in order to avoid underinsurance.
He confirmed that the insured towers and buildings face some problems when claims occur.
The Secretary General of the Association Mr. Fareed Lutfi said that insuring buildings against fire is of paramount importance at this stage and that the recent accidents that took place emphasize the necessity of this insurance.
Source: Al Roeya - UAE