QIC affirms role of insurance asfacilitator for SMEs

14/04/2016 07:50 AST

Qatar Insurance Company (QIC) has underscored the role played by insurance in facilitating growth and mitigating risks for the small and medium-sized enterprise (SME) sector. Salem al-Mannai, deputy group president and CEO of QIC – Mena region, noted that insurance “undoubtedly is one industry that affects every aspect of our daily lives.”

He said the rewards of insurance do not stop at covering for loss or damage to people’s homes, cars, or travels. He also noted that insurance “is a facilitator, providing a service, which is either overlooked or forgotten,” and helps open doors for start-ups and SMEs, and aids in project financing.

Al-Mannai said: “As insurers, we play a vital role in facilitating growth of SMEs and start-ups by mitigating risks.”

He explained that running businesses today “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,” he said.

He added: “As a leading national insurer, it is our duty to facilitate the development of SMEs – the engines of economic growth and diversification. 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.”

Gulf Times