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The Public Establishment for Industrial Estates – Madayn organised yesterday (Tuesday) a discussion session on ‘Safety and security requirements and challenges of insurance coverage provision for industrial units’. A number of public and private bodies participated in the session including the Civil Defence and Ambulance Authority, Public Authority for Social Insurance, Capital Market Authority, insurance companies, and companies and factories based in Madayn’s industrial cities.
The discussion session underlined the safety and security requirements in the industrial units; occupational accidents, injuries and diseases; and the significance of safety and security equipment and solutions in the workplace. Moreover, the session highlighted the reasons of insurance coverage refusal by insurance companies; key insurance coverages and products available for industrial units; challenges faced by insurance companies in covering industrial establishments; legal provisions that hinder insurance companies and modification recommendations for the Capital Market Authority; reinsurance agreements; risk assessment procedures and property valuation in the industrial units; requirements of insurance companies regarding security and safety facilities; incentives and promotional offers that insurance companies can provide to the industrial units that comply with occupational health and safety standards; in addition to insurance coverage related recommendations.
The event also highlighted the best practices and models in the provision of insurance coverage, and adoption of safety and security requirements, as well as underlined suggestions to unify the insurance policy among all insurance companies. Eng. Basim Al Zadjali, Director of Inspection, Control and Occupational Safety at Madayn, explained that this discussion session comes along the lines of the efforts undertaken by Madayn to enhance security and safety standards, and provide insurance coverage for the industrial units in its industrial cities.
Al Zadjali added that Madayn has recently formed a team of representatives of Madayn, Civil Defence and Ambulance Authority, Public Authority for Social Insurance, and Capital Market Authority to develop standards and requirements for Occupational Health, Safety and Security, and procedures for obtaining an insurance policy in the industrial units.
The formed team is working on developing the conditions for Occupational Health, Safety and Security for the industrial units to be mandatory requirements in the insurance policy; and linking procedures and approvals between the concerned department in Madayn and the related department in the Capital Market Authority to obligate these conditions as main requirements in the insurance policy. The team also conducts field visits to frame the technical standards, assess occupational risks in the work environment, evaluate the health and environmental status of certain activities (workshops of all kinds), and raise awareness among investors and workers on the public safety requirements in the facilities.
The team is responsible in providing reports on the results and recommendations that would play a role in developing health and safety policy in the industrial units; identifying fees related controls in the insurance policy for the industrial units in the industrial cities of Madayn, recommending that investors obtain incentives from insurance companies in exchange for their commitment to zero violations and injuries in the work environment; in addition to developing a database that monitors occupational accidents, injuries and diseases; exchanging information among related bodies; and developing awareness programmes.
© Press Release 2021
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