WEC24: Mitigating the risk in the energy sector

Abu Dhabi, UAE, 15th May 2019: The Insurance Authority of the United Arab Emirates has
signed an agreement with the Organising Committee of the 24th World Energy Congress to
sponsor and exhibit at the Congress, which will take place from 9-12 September at the Abu
Dhabi National Exhibition Centre (ADNEC). The Congress is being held under the patronage of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE.

Among the principal responsibilities of the Insurance Authority are protecting the rights of
insured entities, enhancing the performance and efficiency of insurance companies and
identifying risks that should be compulsorily insured. Through its participation in the exhibition running as part of the Congress, the Insurance Authority aims to educate attending energy stakeholders on their responsibilities, as well as their rights, when taking out insurance.

“We are proud to participate in the Abu Dhabi World Energy Congress 2019 and to sponsor this global event, which will provide an opportunity to inform the participating delegations and international companies of the comprehensive development of the UAE, the advanced
economic growth and the rich investment opportunities that the UAE has in the energy sector and other economic sectors”, said H.E. Ebrahim Obaid Al Zaabi, Director-General of the Insurance Authority, “By hosting this event in Abu Dhabi, the Insurance Authority will seek to highlight the potentials of the UAE’s insurance market and its global leadership position, which has made the state’s markets a regional center for international insurance companies and for the provision of different insurance services” he added.

Dr. Matar Al Neyadi, Undersecretary at the UAE Ministry of Energy and Industry and
Chairman of the Organising Committee for the 24th World Energy Congress, said, “The
energy sector is one where adequate insurance coverage is critical to protect organisations
against unforeseen events. The Congress aims to bring together the global energy sector and the aligned sectors that make up the energy ecosystem. Insurance is certainly part of that ecosystem, and we welcome the support of the Insurance Authority which will bring insight into this crucial area.”

For more information or to register for WEC24, please visit their website below.