Wethaq for Takaful Insurance Company, confirmed that what was done by the concerned authorities represented by each of the Ministry of Social Affairs and Labor, the Ministry of Commerce and the General Administration of Firefighting which oblige companies, institutions and shops to insure against fires, accidents and work-related injuries, and link the issuance of licenses for companies to issue such documents, and that contributed significantly in the growth of private insurance for fire and accidents in the local insurance market.
In this context, the general manager of the company, Majid Al-Ali said that this obligation imposed by the concerned authorities, contributed greatly to the growth of insurance premiums in Kuwait, pointing out the importance of cooperation between insurance companies and public administration for the Firefighting to the further development of this important aspect of insurance in order to the protection of life and property in Kuwait, at the same time praising the legislation which stipulates not to issue licenses of the facility by the General Administration of firefighting only after securing the facility against fire by insurance companies.
Al Ali stressed on the need and necessity of periodic inspection and testing fire equipment and protection of workers in institutions, and places of work, and the need to make sure that there is fire prevention requirements in those buildings, pointing out that these procedures reduce risk.
Al Ali pointed out that insurance against fire and accidents have become the most important type of insurance as it is necessary to cover the property such as buildings, factories, warehouses, hotels, galleries, hospitals, schools, private homes and all establishments that may be exposed to the dangers of fire.
He explained that the lack of awareness of insurance in the past caused the reluctance of many people to do this kind of insurance, pointing out that insurance against fire, according to statistics, is less popular than other insurance types, as it comes in fourth place after the vehicle insurance, health insurance and marine insurance.
In this context, the general manager of the company, Majid Al-Ali said that this obligation imposed by the concerned authorities, contributed greatly to the growth of insurance premiums in Kuwait, pointing out the importance of cooperation between insurance companies and public administration for the Firefighting to the further development of this important aspect of insurance in order to the protection of life and property in Kuwait, at the same time praising the legislation which stipulates not to issue licenses of the facility by the General Administration of firefighting only after securing the facility against fire by insurance companies.
Al Ali stressed on the need and necessity of periodic inspection and testing fire equipment and protection of workers in institutions, and places of work, and the need to make sure that there is fire prevention requirements in those buildings, pointing out that these procedures reduce risk.
Al Ali pointed out that insurance against fire and accidents have become the most important type of insurance as it is necessary to cover the property such as buildings, factories, warehouses, hotels, galleries, hospitals, schools, private homes and all establishments that may be exposed to the dangers of fire.
He explained that the lack of awareness of insurance in the past caused the reluctance of many people to do this kind of insurance, pointing out that insurance against fire, according to statistics, is less popular than other insurance types, as it comes in fourth place after the vehicle insurance, health insurance and marine insurance.