Mansoor Ihsan’s Post

Rain insurance coverage plan purchases by UAE shop owners remain low despite the unprecedented April 16 floods causing massive financial losses to retailers. However, industry insiders reveal a higher demand for warehouse insurance policies in the post-rain period as companies look to protect their goods stored in the warehouses. Read more: https://lnkd.in/dyZSDRdA #raininsurance #warehouseinsurance #uaerains #insuranceplan #uae #khaleejtimes

🌧️ Sudden Rise in demands for Insurance Products Due to Recent Heavy Rain in UAE 🌧️ The recent heavy rains in the UAE have led to a significant rise in demand for insurance products. Property, flood, and business interruption insurances are now more sought-after as people recognize the heightened risk of damage and losses. With increasing awareness, more individuals and businesses are willing to invest in insurance to protect their assets and ensure continuity in the face of unpredictable weather events. Don’t wait for the next storm—secure your future. #Insurance #UAE #RiskManagement #FloodInsurance #PropertyInsurance #BusinessProtection

🌟 Protect Your Property with Accurate Valuation! 🌟 Recent floods in Dubai highlight the importance of proper insurance valuation. Don’t risk being underinsured! At NAM CHARTERED VALUERS LLC our RERA and RICS accredited experts ensure your property is accurately valued. 📞 Act now—secure your property before it’s too late! #DubaiFloods #InsuranceValuation #NAMCharteredValuers

The recent heavy rainfall in the UAE has led to a significant surge in insurance claims, with some companies reporting up to a 400% increase compared to previous peaks. Avinash Babur ACII, CEO of InsuranceMarket.ae™ , noted that they have received four times more claims than usual and expect this trend to continue, emphasizing the unprecedented nature of the situation. Claims worth hundreds of thousands of dirhams have been reported from various sectors, including motor damages, water damage, and electrical issues in homes, as well as damages to retail outlets, food and beverage establishments, and offices. Anas MISTAREEHI, CEO of eSanad, echoed this sentiment, expecting the highest number of claims ever recorded from a single event. The surge in claims spans across different categories such as motor, property, projects, and construction, indicating the widespread impact of the rainfall. Moin Ur Rehman, executive director of Unitrust Insurance Broker, highlighted the challenges faced by insurers, particularly with a significant increase in motor insurance claims and property-related damages. #UAE #Dubai #Insurance #Heavyrainfall #Insuranceclaims

UAE Insurance Sector Faces Challenges After April Flooding > Extraordinary rainfall in UAE in April 2024 to cause losses for listed insurance companies > Flood aftermath prompts insurers to raise rates, but infrastructure improvements may boost insurance demand Read more: https://bit.ly/3XfHQOU #internationalfinance #uae #insurance #floods #rainfall #insurers #reinsurance #infrastructure #emirates

🌟 Protect Your Property with Accurate Valuation! 🌟 Recent floods in Dubai highlight the importance of proper insurance valuation. Don’t risk being underinsured! At NAM Chartered Valuers, our RERA and RICS accredited experts ensure your property is accurately valued. 📞 Act now—secure your property before it’s too late! #DubaiFloods #InsuranceValuation #NAMCharteredValuers

Dubai recently experienced heavy floods that caused significant damage to assets and vehicles. It's essential to know the do's and don'ts during floods for motor insurance coverage to stay protected. Here are some tips to keep in mind for Flooded Vehicles: DO's: - Contact your insurance provider as soon as possible to report any damage caused by floods. - Take pictures of the damage caused to your vehicle and assets for evidence. - Keep all the necessary documents such as insurance policy details and registration certificates handy. DON'Ts: - Avoid starting the engine of your vehicle if it has been submerged in water. - Do not attempt to drive through floodwaters. - Do not delay reporting the damage to your insurance provider. Remember, being prepared and taking the right steps can help you stay protected during floods. Stay safe, and do not hesitate to contact your insurance provider for assistance. Jatin Parab Sr Loss Adjsuter (India) Valuer #dubaiflood #floodinsurance #insurance #valuation

Question to all my LinkedIn network: The UAE recently did cloud seeding, resulting in a year's worth of rain in just 24 hours. However, this has caused significant damage and raises important questions. Who is responsible for covering the damages? Will insurance cover weather-related issues if the weather was artificially induced, or will the government need to pay? I am curious to hear from those with insurance or legal backgrounds on their thoughts regarding this issue. Let's discuss and share our insights. #uae #rain #flood #insurance #damages

Lowest premiums may no longer be the best option as risks change!  20,000+ Claims Signal a New Reality. Dubai's floods are a wake-up call, with estimates predicting over 20,000+ insurance claims across all sectors. This disaster exposes a critical gap: are people properly insured?     Key takeaways to secure yourself:     ‣ 𝗖𝗼𝗻𝘁𝗲𝗻𝘁𝘀 𝗖𝗼𝘃𝗲𝗿𝗮𝗴𝗲 𝗠𝗮𝘁𝘁𝗲𝗿𝘀: Many homeowners only have mortgage insurance, leaving their belongings vulnerable. Nearly 1,000 flooded houses highlight this risk. Protect your valuables! ‣ 𝗥𝗲𝗹𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗢𝘃𝗲𝗿 𝗣𝗿𝗶𝗰𝗲: Don't be lured by the cheapest premium. Unstable insurers struggle during large claims events. Choose a reputable provider – quality matters more than a few dirhams saved. ‣ 𝗥𝗲𝘁𝗵𝗶𝗻𝗸 𝗥𝗶𝘀𝗸 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁: Similar to car insurance, skimping on a small premium can cost you a lot. A 20,000-dirham claim the cost of fixing the assest dwarfs in front of the premium if taken at the right time    These lessons hold true beyond Dubai. Climate change is making unexpected events more common.     Here's how to prepare:    ‣ 𝗥𝗲𝘃𝗶𝗲𝘄 𝗬𝗼𝘂𝗿 𝗖𝗼𝘃𝗲𝗿𝗮𝗴𝗲: Does your insurance reflect the current risk landscape? ‣ 𝗗𝗲𝘃𝗲𝗹𝗼𝗽 𝗮𝗻 𝗘𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆 𝗣𝗹𝗮𝗻: Be prepared for power outages or disruptions. Let's learn from Dubai and adapt our approach to risk. By taking these steps, we can build a more secure future.     Have you reviewed your insurance coverage lately? #InsuranceAwareness #RiskManagement #InsuranceReview #PrepareForTheUnexpected 

The recent heavy rainfall in the UAE has led to a significant surge in insurance claims, with some companies reporting up to a 400% increase compared to previous peaks. @Avinash Babur ACII, CEO of Market Insurance, noted that they have received four times more claims than usual and expect this trend to continue, emphasizing the unprecedented nature of the situation. Claims worth hundreds of thousands of dirhams have been reported from various sectors, including motor damages, water damage, and electrical issues in homes, as well as damages to retail outlets, food and beverage establishments, and offices. Anas MISTAREEHI, CEO of eSanad, echoed this sentiment, expecting the highest number of claims ever recorded from a single event. The surge in claims spans across different categories such as motor, property, projects, and construction, indicating the widespread impact of the rainfall. Moin Ur Rehman, executive director of Unitrust Insurance Broker, highlighted the challenges faced by insurers, particularly with a significant increase in motor insurance claims and property-related damages. #UAE #Dubai #Insurance #Heavyrainfall #Insuranceclaims