Dubai Insurance: Insurance in Dubai

Abjar Hotels International is a leading hospitality company with a portfolio of prominent hotel brands including Ritz Carlton, Sheraton, Ramada and Crowne Plaza, which continues to grow in number of properties and employees. The risks implicit in such an operation grow geometrically whether, in the area of property management or group benefits , but we ..... 

Mr.Ihab EL Kerdani C.H.A 
Director of Hotel Operations & Development
Abjar Hotels International LLC

Al Khazna Insurance Company P.S.C

Al Khazna Insurance is a worthy cause, providing prudent Insurance cover not only to its policyholders, but also to the entire community. With over 420,000,000 Dhs. in capital assets, Al Khazna is the largest insurance company (in terms of paid up capital) in the United Arab Emirates, and come 9th of the top 150 big companies in Arab world.

Al Khazna Insurance Company P.S.C. was founded in 1996 following the Ameri decree No. 4 on 11/06/1996 by H.H. SHEIKH KHALIFA BIN ZAYED AL NAHAYAN, President of the U.A.E. and Ruler of Abu Dhabi Emirate.The Company is authorized to write all classes of general insurance and reinsurance business. Al Khazna obtained its business enrolment at the end of January 1997 and the actual operation was launched in March 1997. Al Khazna has been named after the safe or stronghold as conveyed in Arabic Language, to emphasize on this secure facet that is primarily needed in the insurance business.

ABUDHABI NATIONAL INSURANCE COMPANY

The Abu Dhabi National Insurance Company (ADNIC) is a Public Shareholding Company incorporated in Abu Dhabi, the United Arab Emirates, by Law No. (4) of 1972 as amended by Law (4) of 1974, and is governed by the provisions of the U.A.E. Federal Law No. (6) of 2007 "Establishment of the Insurance Authority & Organization of its Operations", with Registration No. (1).

Since its inception back in 1972, ADNIC has endeavoured to be the leading and prominent provider of quality and affordable insurance products and services, and has managed to establish itself as the reliable insurer of choice. This "reliability" is not just a motto to us here in ADNIC, but rather a hard-earned reality supporting it and attesting to which are the following facts:

• More than 40 years in business, characterised by continuous, unabated growth in all segments of the Company, with combined ratios and results that are consistently one of the best in the industry.
• A strong financial backbone - supported by strong reinsurance protection - which enables us to keep our short-term and long-term commitments to our clients and partners.
• A team of experienced professionals capable of providing and crafting insurance covers which would meet the needs of the most discerning of clients, augmented by efficient and timely claims services, and supported by extensive use of the Information technology.

Insurance

Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.

An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraisingand controlling risk, has evolved as a discrete field of study and practice.

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called theinsurance policy, which details the conditions and circumstances under which the insured will be financially compensated.