Seminar on Insurance for Industrial Plant Arranged by United Insurance Co., For Aden Refinery [Archives:2000/08/Business & Economy]

January 21 2000

In consistent with its believe in dedication for a quality insurance services to its clients, United Insurance, the leading Yemeni Insurance Co., has invited Mr. George Kabban a Director of United Insurance Brokers U.I.B. the International Reinsurance Broker based in London and Mr. Gordan Faultless from Associated Risk Management to address a seminar on the subject Insurance for Industrial Plant at the Aden Refinery Company (ARC) on 14th Feb.2000 and also a two days survey of the risk in order to update the Refinery management with the standard and quality of the risk. 
The opening ceremony of the seminar was attended by the Deputy Executive Manager of the Refinery Mr. Yousef Quliqel and the General Manager of United Insurance Company Mr. Tarek A Hayel Saeed. 
The seminar aimed to inform the senior managers of the refinery on the importance of the risk management & insurance for their Industrial Plant. 
At the beginning of the seminar, Mr. Yousef Quliqel, Vice Executive Manager of Aden Oil Refinery gave an address, expressing his happiness for holding the training course by United Insurance Company. He gave a speech on behalf of the Executive Manager, I would like to welcome  Mr. George and Gordan and all the members of United Insurance Company visiting Aden Oil Refinery. 
He said that it was a good opportunity to express his gratitude and regards to the members of United Insurance. He added that the seminar was a good indication of coordination and at the same time it is an extended initiative for benefiting from this type of insurance. As a matter of fact, having an insurance company holding such a scientific seminar on ways for protection against the dangers of fires is quite a unique and appreciable effort. 
There is no awareness of the insurance against fire in our country. However, we particularly urge the employees to benefit from this seminar as much as they can because  insurance is quite a huge field that covers various areas including pertaining to fire, maintenance, properties, incidents, etc.. We also urge the staff of the United Insurance Company to  clarify to the audience the insurance aspects upon which we would no longer discourage the insurance policy. We want them to tell us about the benefits that we may get from insurance just as insurance companies benefit from us. Without awareness about insurance, we would not be able to do much. Hence, we must exchange information and benefit from each others experience. We would like to come out with good resolutions from this seminar. he added. 
The first part of the seminar covered the way the international insurance industry operates and some of the types of insurance available for major companies like ARC. 
The second part of the presentation explained how insurance companies assess the risks which they are being asked to accept, principally by having a risk survey carried out by approved, qualified engineer. 
The final part of the seminar covered ways of managing risk, looking at how the management can work to reduce the risk and when it should transfer the risk to the insurance company.  Two case studies were given, illustrated by videos, of major fires in the oil industry, which identified some useful lessons which could be learned by the management of refineries. 
The participants in the seminar have also listened to a lecture given by Mr. Gordan Faultless and Mr. George J. Kabban. Both experts explained the aim behind insuring  installations, the types of insurances, the relationship between the insurer  and the insured as well as re-insurance that cover machines, equipment, buildings and real estates. There was also an explanation of the types of damage that could be covered by insurance and those that are not covered. He also described the damage expected to affect properties, equipment and buildings, how they are affected and the way of avoiding them. 
Geometrical drawings and graphs were also demonstrated to illustrate these dangers, the measures to prevent them, reduction of damage and the ways to offer these potentials and advice to the workers of the refinery company. Live pictures of fires in oil storage were shown as an example accompanied with explanation on how such incidents usually happen. 
The seminar was concluded by long discussions between the participants especially the workers of Aden Oil Refinery and of the members of the United Insurance Company. The workers and technicians of Aden Oil Refinery expressed satisfaction over organising the seminar from which they have benefited much in this particular field of insurance in industrial plants.