Union Insurance Company Hosts' Construction & Risk Management Seminar

Union Insurance Company, a leading provider of innovative customer-focused insurance products to individuals and organizations in the region, announced that it has recently held an educational seminar in the UAE to raise awareness of the importance of adopting a comprehensive approach to risk management during project lifecycle.

Under the theme 'Construction and Risk Management', the seminar was held in association with world renowned reinsurers and featured distinguished insurance experts from Swiss Re, Hannover Re, SECO, Gulf Re and JLT.

"The winning of hosting of Expo 2020 has brought about changes in the risk landscape because of the surge in the number of mega projects," said Abdul Muttaleb Al Jaedi, Managing Director & Chief Executive Officer, Union Insurance Company. "We have organized this seminar to provide construction industry professionals with an ideal platform for exchanging ideas with subject-matter experts and to keep abreast of insurance best practices and latest developments."

Union Insurance Company aims to shed light on the significance of developing a comprehensive project risk management strategy that considers all key potential risks through out the project lifecycles, from concept design to construction and handover, as well as includes the approach to avoid, mitigate or transfer those risks.

"This seminar is in line with our commitment to continuously add value to our clients and we look forward to further cooperation with leading international reinsurers to help our clients manage risks more efficiently," said Usman Khadmi, President of General Insurance, Union Insurance Company.

Key topics discussed in the seminar were "Risks versus stakeholders responsibilities'' 'Crucial Role of a Risk Manager for Site Safety'' 'Risk Exposures Associated with a Construction Project'' 'Fire at High Rise Construction Sites ' and 'Risk Management from Developers Perspective'. It was attended by government officials' leading property developers' contractors' engineers and consultants.

About Union Insurance Company

Established in 1998 and listed on the Abu Dhabi Securities Exchange' Union Insurance Company is regulated by the UAE Insurance Authority and has a paid up capital of over AED 330 million. The company provides a wide range of individual and commercial insurance products to clients in the UAE and Middle East region.