JEDDAH, 27 February 2007 -- Interserve Marsh held a marine insurance training event in Riyadh to create marine risk and insurance awareness and promote knowledge sharing among the trading, industrial houses and insurance companies in the Kingdom.
The event took place at the Marriott Hotel Feb. 20-21, 2007 and was widely attended. While inaugurating the function, Ali A. Al-Subaihin, CEO of NCCI, the premier insurance company in the Kingdom, observed that "unfortunately small- and medium-size businesses in the KSA lack awareness to mitigate and transfer the risks to the insurer, which explains why the insurance contribution is so low in Saudi Arabia."
He further observed that Saudi Arabia, being a large importer of goods, foreign insurance on "CIF" basis does not support the local insurer or the economy.
Al-Subaihin lauded Interserve Marsh for bringing expert knowledge and commented that he would "remember this event as a major awareness day" in the emerging Saudi insurance market.
Sa'ed Obied, MD and country head of Interserve Marsh, welcomed the participants. He reiterated that Marsh, the world's leader in delivering risk and insurance services and solutions, is committed to bringing Marsh's worldwide resources and expertise to support the local industry and add value to our clients. Marsh will be conducting similar educational events in the future in order to address various important issues and enhance local awareness.
Sa'ed Obied thanked the participants for their support. The main guest speaker, Neil Pettitt, a marine insurance expert with 29 years of experience from Marsh, Ltd. of the UK, led the training session that was attended by employees from various industries and leading insurance companies.
© Arab News 2007
