The UAE is Among Top 20 Countries in the World of Marine Insurance
With the success of this conference in 2018, Marine Insurance Conference (DMIC) has returned to hold a second conference in 2019, expected to be bigger and better.
Under the patronage of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, the DMIC will be held on the QE II on 24th September 2019 and will form an integral part of the UAE’s Maritime Week.
Last year saw the launch of the first Maritime Insurance Conference in Dubai. The event was hosted by the Dubai Maritime City Authority and supported by the Emirates Maritime Arbitration Centre. This brought together 52 speakers and 440 attendees from various sectors of the Maritime Industry where the industry chief minds discussed the key issues affecting the marine Insurance procedures and the state of the worldwide marine insurance market. This was the first time such a platform has been created in the Middle East, allowing for various industry personnel to learn about current trends as well as the potential future state of the industry.
The theme of this year is ‘Manage Your Risk’ as the Conference will centre around hot issues and themes currently facing the Oil & Gas industry in the Middle East including: prices volatility, environmental issues, changing market regulations, development of new usages, emerging processes and insurance policy. There will be a place for specialists in their fields to present new research and potential solutions for their respective fields.
Affirming confidence in the value of this conference, Majid bin Bashir, Acting Chairman of Emirates Maritime Arbitration Centre (EMAC), added that, “EMAC will continue to show support for the maritime and offshore energy sectors by participating at key industry events. The agenda for the DMIC conference this year, highlights the risks that the industry sector is exposed to and how we can all work together to support the energy and maritime economies. EMAC is delighted to participate in the 2nd Maritime Insurance Conference in Dubai, whereby we not only actively participate, but we learn more about the insurance concerns of stakeholders within maritime, offshore energy and logistics in the Middle East region. There is a definite benefit to bringing the community together for these types of focused events and we applaud Maritime Sky for once again hosting this unique gathering in Dubai.”
Mohamad Al Ghoul, Chief Executive Officer, Maritime Sky. “The continued commitment to grow the UAE maritime industry has seen representation of the insurance market in the UAE grow significantly. Maritime Sky encourages open discussion and debate about multiple industry related matters and we support platforms that facilitate development of better risk management approaches, especially where stakes are as high as in the offshore energy market”.
Marine Insurance protects $35 trillion in international import and exports annually and the UAE is among the top 20 countries in the world in container handling. With this economic importance in mind, this year’s conference will lead way to further development and advancement within the industry that could create a positive way forward for the sectors contributing to it.