Sharjah [UAE], October 25 (ANI/WAM): A delegation from Sharjah Electricity, Water and Gas Authority (SEWA) recently visited Marsh McLennan, the world's largest risk and insurance solutions provider based in London, to present the Authority's efforts and future ambitions to senior insurance specialists.
The delegation included Majid Hussein Al Mutawa, Director of Legal Affairs and Human Resources Department; Hassan Ahmed Hassan Abdullah Al Zarouni, Director of Electricity Distribution Department; and Hadef Sultan Mohammed Al Saleh Al Tunaiji, Director of Procurement and Contracts Department.
During the visit, the delegation discussed with the International Energy and Utilities Insurance Team at Marsh McLennan the most important developments and updates related to the insurance industry around the world and the overall business of Marsh McLennan, the various services it provides.
The delegation also discussed ways of cooperation to provide the best insurance services for vital facilities as SEWA continues to increase its production capacity to meet the growing demand for energy in the emirate of Sharjah, which requires strengthening relations with insurance companies and discussing solutions specifically designed in this field.
The visit provided an opportunity to review SEWA role and efforts, highlighting the emirate of Sharjah as a regional leader in the energy and gas distribution sector and its commitment to strengthening long-term partnerships.
During the visit, relations were strengthened with a number of major insurance companies such as STARR, Allianz, Score, and QBE. In addition, the delegation visited Lloyd's of London, the world's largest insurance market, to explore further opportunities.
During the visit, the delegation discussed the implementation of new insurance solutions that are in line with best practices followed by energy companies. Among these solutions is the proposal of an owner-controlled construction insurance programme, which will allow SEWA to cover all contract work throughout the year, while providing benefits such as cost control, consistency of coverage, oversight by the insurance committee, and control of claims.
The need for a cyber risk assessment and insurance programme was also discussed as a very important topic. As cyber threats continue to increase globally, particularly in the Middle East, establishing a robust cyber insurance framework is essential for SEWA to protect its assets from potential attacks. The Authority's proactive risk management and insurance strategy will play a pivotal role in supporting its growth and innovation in the coming years.
SEWGA will work in collaboration with Marsh McLennan, the world's largest risk and insurance solutions provider, and Al Buhaira National Insurance, the largest insurance company in the emirate of Sharjah, to build and develop the Authority's risk and insurance framework on an ongoing basis in line with international standards, ensuring that SEWA remains at the forefront of the energy and utilities sector. (ANI/WAM)