April 23, 2014

‘Developing insurance sector’ workshop held in Mines Ministry

By Sadaf Shinwari - Sun Jul 29 2012, 1:52 pm

A one day conference held at ministry of mine Afghanistan for the purpose of introducing local insurance products to the employees of the ministry.

Mohammad Anwar, Deputy Minister for Ministry of Mines who was the first speaker at this conference said, “Insurance is an important factor for the economy of as well as for the residents of a country. We are happy to have a proper insurance sector in the country now.”

Fazal Bari Mumtaz, Afghan Insurance Commissioner has started to develop insurance sector by introducing it to government employees with the support of government institutions.

“Currently Auto-Liability and Aviation insurances are obligatory in Afghanistan and the newly insurance drafted law has made more insurance lines mandatory for Afghanistan, Fazl Bari Mumtaz told Khaama Press.”

Currently all vehicle owners in Afghanistan have to get their insurance documents renewed with the state insurance provider annually. This insurance line has been monopolized by Afghan National Insurance Company.

Afghan Insurance Commissioner said “the new insurance law has given right for the citizens to get Auto-Liability insurance from any company they are satisfied with. No matter it is a state or a private company.”

The first private insurance company established in Afghanistan in 2007 and has provided over 18 billion dollars insurance coves yet.

“We have paid out around 4.5 million dollars claims and have provided over 18 billion dollar insurance risk coverage since establishment, said Seyar Hashimi, the representative of Insurance Corporation of Afghanistan.”

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