Occupational insurance key issue in region

The General Arab Insurance Federation (GAIF), in cooperation with the Bahrain Insurance Association (BIA), has announced plans for hosting the MENA region’s first Professional Occupational Insurance Forum.
The two-day forum, which will be held with the support of the Central Bank of Bahrain (CBB), is set to take place in Bahrain from Oct. 21-22 at the Ritz Carlton, where more than 300 GCC and GAIF members, and MENA and South Africa-based insurers, industry players and corporates are expected to gather.
Occupational insurance, which is a method of protection against legal expenses and other costs associated with medical malpractice and general corporate malfeasance, is becoming increasingly important with more and more organizations across the MENA markets seeking to offset the potential liabilities resulting from the negligent activities of employees, directors and officers.
As such, the forum will focus on building awareness of the value of occupational insurance and of occupational insurance products. Furthermore, it will also examine similar protection for losses resulting from political violence, an issue that is becoming increasingly relevant for companies operating in a number of Arab countries in transition.
More specifically, the forum will look at important topics such as how to develop the marketplace for occupational insurance, how to manage the emerging needs of occupational insurance within the region, and how to network with insurance professionals.
Bahrain was selected to host the event as a result of its position as a leading financial services hub and home to a significant number of insurance and reinsurance companies, regulatory agencies, brokers, financial institutions and medical practitioners who can benefit greatly from the forum and its focus on key issues impacting the industry and end users.
“GAIF is delighted to announce the launch of the Professional Occupational Insurance Forum to be held in October 2013 in Bahrain,” said Abdul Khaliq Rouf, general secretary of GAIF.
Younis Jamal, chairman of BIA, said: “We are extremely pleased to be joining with GAIF to host this groundbreaking event focused specifically on both building awareness and driving growth of occupational insurance across the Arab insurance markets.”