Marine insurance essential to growth, sustainability of maritime sector says DMCA

Marine insurance essential to growth, sustainability of maritime sector says DMCA
Published: 19 March 2019 - 6:28 a.m.
By: Logistics Middle East Staff

The Dubai Maritime City Authority (DMCA) has re-emphasised Dubai’s pioneering experience in maritime insurance as it shed light on some of the major local insurance services designed to ensure safe navigation, support maritime operational efficiency and security.

Hamed Hassan, director for registration and licensing, DMCA said, “A comprehensive insurance coverage is one of the major pillars of the growth and sustainability of a maritime sector.”

“We are keen towards adopting an integrated portfolio of insurance services that have been developed to meet the needs of the maritime sector, investors, owners and operators of international ships—ensuring their protection and coverage in case of an accident or an emergency situation,” he added.

Hassan said that the growing number of marine insurance providers in the UAE enhances the competitiveness and sophistication of the local maritime cluster on a global level and serves the national direction towards economic diversification.

“We look forward towards attracting more marine investments and taking advantage of the benefits that Dubai offers as the emirate is recognized as one of the world's most attractive marine destinations,” he said. “The move is in line with Dubai Plan 2021 and its plan to transform the emirate into a major hub for the global economy.”


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