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Oman Insurance Company discusses cladding risk with key property clients at forum

Insurance teams from the UAE presented different perspectives to the risk managers attending the forum

| | Nov 1, 2016 | 3:34 pm
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Oman, UAE: As part of its risk management initiative, Oman Insurance Company has announced that it conducted a forum with experts to help its key property clients discuss the cause of some recent fire incidents in the country, the hazards of flammable cladding with a thermoplastic core, its amplification of property loss and damage and ways for maintaining safety standards going forward.

With the Civil Defense working on the forthcoming UAE Fire Safety code, the company said that it is taking a step towards helping its clients understand the specific hazard that some cladding may present, the different approaches to addressing the tough risk management issues therein and the availability of A2 fire-resistant panels with a stone core that are now compulsory for buildings more than 15 metres tall in the United Arab Emirates (UAE).

The company revealed that key insurance teams from the UAE presented different perspectives to the risk managers attending the forum. Speaking specifically on the flammable cladding risk, A. M. Rao, Group Director, Alubond Global Operation, shared insights to help understand the nature of cladding risk and the value of maintenance and renovation of existing buildings, highlighted the company.

Christos Adamantiadis, CEO at Oman Insurance Company, added: “Risk Management is increasingly receiving more attention on the back of global and regional façade fire incidents, and insurers with their experience and links to the right experts in the market can bring tremendous value to clients by bringing forward best practices, examining failures and identifying and bridging gaps effectively.”

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