Muscat - Al Madina Takaful, the sultanate's first Takaful provider, recently introduced the 'Knowledge Forum', a platform to engage with decisionmakers, facilitate the exchange of information, knowledge and practices, and inspire innovation and leadership through collaboration.
The inaugural session, held on February 19 at the Intercontinental Muscat, focused on insuring management liability. The Knowledge Forum is an engagement platform that Al Madina Takaful plans to host periodically to discuss industry issues, challenges and opportunities, a company press release said Sunday. The inaugural session was supported by the company's global partner in the speciality business - the Chubb Insurance Group.
As panelists, the other participants at the forum included, Peter Mansour of Hamed Al- Sharji, Peter Mansour & Co, a leading legal consultancy, and Maqbool Hussain Moosa al Lawati, managing director, MHMY audit firm and former CFO of Oman LNG.
Discussion was centered around the growing attention of the corporate world on the need for ethical practices and legal compliance. Speaking at the forum, Gautam Datta, CEO, Al Madina Takaful said, "Compliance and governance have become the corner stones of corporate performance, success and reputation."
"Insuring management liability through Director's and Officer's (D&O) Insurance is an old practice that has acquired a new meaning in today's context. The subject is strongly related to our business philosophy - 'Everything in Harmony' - which is about balancing business challenges and performance with sustainable practices. We are proud to host this forum, and hope that all the participants benefit from the learnings," said Datta.
Jason Howard, VP, Chubb Group of Insurance Companies, who was among the panelists, said, "The evolution and attention to D&O Insurance is critical to organizations worldwide, not just in Oman. Chubb is one of the world's largest insurers of D&O Policies and one of the leading D&O Insurer in the Middle East. We have built valuable expertise in this segment, which is available in Oman through our partnership with Al Madina Takaful."
© Muscat Daily 2014
