UAE – Need for compulsory fire insurance
Saturday, 06 08 2019, Category: Insurance and Reinsurance, Country: U.A.E
Observers and experts working in the insurance sector said that the demand for fire insurance in the UAE is still below international levels despite recurrent traffic accidents especially during the summer season due to the the increase in temperature levels.
The increase in demand for such contracts increased slightly by 3% to 5% as an annual percentage, which is very low compared to the size of the market and compared to international levels. Globally clients rush to buy fire insurance. However, in the UAE, citizens buy insurance just after a fire occurs.
Source: Economic Al Khaleej