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Introduction of medical, agriculture insurance under study

MUSCAT: The Insurance Committee of Oman Chamber of Commerce and Industry (OCCI) organised an insurance workshop at the OCCI Sohar branch under the topic “The Challenges and Opportunities of Development in Insurance Sector”.

The workshop was held under the auspices of Murtadha Mohammed Jawad Al Jamalani, deputy chairman of Insurance Committee.

The workshop was attended by representatives from a number of insurance companies, banks and Capital Market Authority.

Four working papers were presented at the workshop covering topics like the effect of global financial crisis on insurance industry, health insurance, agricultural insurance and financial solvency system and monitoring.

In the opening speech, Murtadha Mohammed said the global financial crisis was being closely observed in the country and the region more so because of its huge impact on the stock market in which most of the insurance companies were exposed. But this should not be too problematic in the long term for prudent insurers pursing the noble path to technical profitability.

The government of the Sultanate under the wise leadership of His Majesty Sultan Qaboos bin Said has taken a number of proactive and reactive risk management measures to protect and improve the country’s infrastructure, people and economy.