Iran Daily reported that Iran Insurance Company has covered all oil tankers which are loaded at Iranian ports.

Mr Javad Sahamian Moqaddam MD of Iran Insurance Company said that in spite of the enemies' propaganda about weakness of Iran for insuring oil tankers the country has achieved to foil the enemies plots through forming a consortium of insurance companies. Iran is among top 14 nations in terms of rendering P&I insurance services.

Mr Moqaddam said that P&I, which stands for Protection and Indemnity is a form of marine insurance provided by a P&I Club. This is a specialist class of liability insurance protection for ship owners and charterers. P&I Club covers a wide range of liabilities including personal injury to crew, passengers and others on board, cargo loss and damage, oil pollution, wreck removal and dock damage. Clubs also provide a wide range of services to their members on claims, legal issues and loss prevention and often play a leading role in the management of casualties.

He added that Iran covers four issues including the security of those on board, the collision of vessels with other vessels and docks, safety of commodities and oil pollution. Iran Insurance Company has had a significant presence in Persian Gulf states particularly Oman, UAE and Bahrain.

Mr Moqaddamsaid that it received IRR 540 billion as insurance fees from the Persian Gulf region which indicated 26% growth. The insurance industry is to increase its presence in global markets.
Referring to the 77 year history of Iran Insurance Company.

He said that the company has 250 branches nationwide which handle all compensation administrative services. In addition to issuing 17 million insurance policies last year, the company offered services such as Golden Insurance for Teachers, Insurance Policy for Foundation of Martyrs and Veteran Affairs and Students Insurance.

Source - Iran Daily

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