The Critical Role of Insurance in Risk Management During Inflation: Gargash Insurance
24 Oct, 2024Gain insights from our Managing Director, Mr. Mustafa Vazayil's interview with Gulf News on how insurance mitigates risk during inflation and tips for businesses to understand their potential areas of risk exposure.
Insurance is vital for risk transfer, particularly in times of inflation. As expenses increase, the significance of compensation becomes even more pronounced, notes our Managing Director, Mustafa Oliyath Vazayil. By transferring risk for a fixed cost, clients can more effectively manage losses from unexpected events.
Our responsibility as insurance brokers is to educate individuals and businesses about their risk exposure. With three decades of experience, Gargash Insurance is well-prepared to meet diverse insurance needs in the UAE. We maintain ongoing communication with clients to ensure they stay ready for evolving situations.
Awareness of insurance necessity is on the rise, especially after the financial challenges posed by the pandemic. Many are now pursuing comprehensive coverage, particularly for vehicles. Health insurance is also growing rapidly, driven by government mandates and a greater public understanding of its importance.
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