Insurance benefits go beyond damage costs, Qatar Insurance Company says

Insurance is about more than covering the costs of damages, people often forget about the unspoken benefits of the sector, Qatar Insurance Company (QIC) Deputy Group President and CEO of the MENA region Salem Al Mannai said.

Insurance is beneficial when it comes to the loss or damage of personal property, but the insurance industry is also a driving force in opening the doors of startups, small and medium enterprises (SMEs) and support project funding.

“As insurers, we play a vital role in facilitating growth of SMEs and startups by mitigating risks,” Al Mannai said. “Running businesses in today's world involves plethora of risks. Without having to worry or be baffled by any unforeseen expenses arising out of accidental damage of office building, equipment and machinery, loss of revenue due to property damage, third party or employer's liability, our package policy Business Shield Insurance, caters for all business insurance requirements so that entrepreneurs can allocate more time on nurturing their businesses.”

“As a leading national insurer, it is our duty to facilitate development of SMEs - the engines of economic growth and diversification,” Al Mannai said. “In fact, it would be difficult for the region to support the anticipated growth and manage today's evolving and complex risk landscape without having an insurer to absorb the loss and compensate for damages following an accident.”