Abu Dhabi, on March 6th, 2017
Insurance Authority and National Emergency, Crisis and Disasters Management Authority signed MOU about joint cooperation to enhance constructive partnership and to provide and exchange archived information and data of gross incidents and disasters in case of emergency, crises and disasters.
MOU was signed by Mr. Ibrahim Obeid Zaabi, GM of Insurance Authority, for the said Authority, and Dr. Gamal Mohammed Hosani, GM of National Emergency, Crisis and Disasters Management Authority, for the said Authority.
MOU is intended to enhance cooperation and constructive partnership between both authorities; to provide and exchange archived information and data of gross incidents and disasters in case of emergency, crises and disasters through assigning certain roles and responsibilities to each; to facilitate information and initiatives exchange and prepare reference document containing all objectives, conditions and responsibilities. In addition, systematic framework is needed to exchange and re-issue data including electronic systems, schedules and procedures of providing concerned parties with data. Also, the said MOU is intended to enhance adherence to approved methodologies and standards, and to promote data and information quality.
As per MOU, both parties undertake to provide up-to-date data and information on ongoing basis, and exchange expertise and technical consultancies of common interest which related to their fields according to the requirements of each.
H.H. Ibrahim Obaid Zaabi, GM of Insurance Authority, stated that, "MOU included with National Emergency, Crisis and Disasters Management Authority is to confirm the keenness of Insurance Authority to develop strategic partnerships with governmental agencies, which would contribute in achieving the vision of wise leadership and governmental strategy to enhance competitiveness of local market and to develop UAE economy growth".
As well, he pointed out that, "the importance of cooperation with National Emergency, Crisis and Disasters Management Authority in achieving the vision and strategic objectives of Insurance Authority in field of local insurance market performance development, and in enhancing competitiveness of UAE insurance industry worldwide".
"Exchange of expertise and use of information in the process of risk analysis, forecast and distribution between Insurance Authority and National Emergency, Crisis and Disasters Management Authority contribute in developing state infrastructure and business performance and in strengthening competitiveness environment of UAE insurance market as well enhancing its growth and its regional and global position in field of insurance," Zaabi said.
He explained that UAE insurance sector is the best regionally in opportunities and risks calculation according to a report prepared recently by international specialized financial institutions.
He showed that Authority intends constantly to enhance statutory and service regulations in insurance sector through coordination and cooperation with governmental agencies and all partners, aiming to ensure the regulation and supervision to insurance sector as per best legal basis applicable in insurance industry and to strengthen competitiveness environment of UAE insurance market worldwide.
"Our partnership with various state sectors will contribute in promotion of qualified personnel in emergency, crisis and disasters management, noting that Authority still concludes bilateral agreements and MOUs with new partners in order to ensure full readiness for emergency. Readiness and availability are important elements in our strategic plans for crisis confrontation and management," Dr. Hosany said.
"Authority seeks to prepare and process the critical infrastructure and computing environment necessary to provide vital information and data in order to set up electronic data basis and systems and extract gross incidents and disasters damages reports. Using data in risk analysis, forecast and distribution process, and partnership promotion to take advantage of technical resources, expertise and standard comparisons in various fields, as well expertise, data and information exchange are all crucial," he added.
Dr. Hosany confirmed that signing MOU with Insurance Authority is important to consolidate efforts in favor of various sectors in the country. "This MOU signing reinforces consolidating efforts and taking advantage of national expertise in various sectors, especially promoting the process of expertise, data and information exchange to achieve governmental vision and objectives," he noted praising the efforts of all partners.
"National Emergency, Crisis and Disasters Management Authority is the main national agency in coordination of emergencies and crisis management efforts and procedures. It is responsible for developing united national plans to respond to crisis and emergencies cases, and for developing, consolidating and perpetuate laws, policies and procedures relating to crisis and disasters management. Through signing MOUs with strategic partners from various sectors, it is crucial to develop readiness and availability requirements in order to meet necessary services when needed," he added.
MOU signing ceremony was attended by Authority departments' directors and some of its employees.