National Insurance: plans to keep money inside Iraq

1/20/2016 0:00

BAGHDAD Mustafa al-Hashimi

National Insurance Company confirmed that the insurance activity in all the world is affected by the general economic state situation as well as affected by war and its aftermath as well as other economic factors.

The company's general manager Sadiq Abdul Rahman Hussein told the «morning»: that among the economic factors contribute to the deterioration of oil prices often negatively influence the completion or implementation of the majority of state enterprises, which led to the cancellation of some types of insurance relating to this aspect. He revealed Hussein and there are plans to make up for it, explaining that one of the plans included the agreement with the global re-insurance companies to increase the proportion of carry risks in order to achieve high financial revenues and keep money inside Iraq for as long as possible.
He either for companies operating in the oil licensing rounds have raised the ratio Insurance, as between Prime Insurance Association out a unified position by the local insurance sector of corporate civil and governmental cooperation in this field and a commitment not to offer discounted prices hurt the other companies at the expense of prices of documents of all kinds.

He Hussein to the National Insurance Company insurance on central bank loans which launched within his initiative to finance medium and small productive projects in order to promote the economic reality of the country.

The Director General pointed out that the investment an important role in maximizing the company's revenue, explaining that private investment National Insurance Company are the three types, the first is to invest in deposits, the second type is buying stocks, and the third is to invest in real estate, stressing that the latter type is the most useful to the fact that real estate prices in the Iraqi cities continuously rising, and if it fell, it goes down very low percentages.
He stressed that the company is working with international standards in this area by upholding and abiding by the principle of liquidity and profitability and security.

The rate of growth achieved in the real estate investment revenue for 2014 amounted to 28 percent, and this percentage was the result of rising real estate prices - according to the annual report of the company for the year 2014-. And the fires that have occurred in the shops and markets Shorja last summer and compensation paid to those affected by the subject of director of the company: The company said obliged to pay compensation for the believers have of those affected by the fires, stressing at the same time, high amounts of compensation fire portfolio in recent years.

However, there are things that should be observed by the owners of shops or stores and dealers during Khoznhm for their goods, represented by the need to adhere to safety standards and be careful not to accumulate goods to your ceiling stores end.

He revealed some of the frauds by some traders Castirad Damaged goods or expired or outdated by the time Kalajhzh electrical which is difficult to discharge, or mobile devices that are often exposed prices to decline after months of import, and then insured large amounts of money and then they amassed in the manner mentioned, to come to the fire fabricating greed compensate the loss deliberate.

He stressed that the company is keen to the granting of compensation in order to avoid the negative publicity that spread quickly among the public, which damage the reputation of the company when broadcast by the aggrieved if withhold payment after fraud detection.

And new insurance documents that the National Insurance Company plans to launch this year, Hussein said: National Insurance Company has signed an agreement with two insurance companies governmental Aaranian to issue a document (arrivals) aims to cover the dangers of travel and accidents resulting in which Kaltard terrorist operations also include health insurance during travel days per Iraqis and Iranians passengers.
He said the agreement The agreement came in order to expand the company's financial revenues and to serve the country's economy, as well as it coincided with the lifting of economic sanctions on Iran.

He said Convention will enter into force soon, indicating that it mutually beneficial and by 50 percent for each of the two sides .
He pointed to the need to benefit from the growth of the preparation of Iranian visitors to the holy shrines in Iraq are constantly employed to serve the economy, explaining that under this policy, if the exposure visitor or traveler Iraqi insured with the National Insurance Company to the accident in Iran will be the payment of compensation from the Iranian side and vice versa for the two companies that have been agreed with them.

The National Insurance Company has 13 branches, including 8 specialized branches and 5 geographic and associated branch offices, 42 of which 29 offices and 10 border geographically and 3 other specialized distributed among the governorates of Iraq.