Motor Insurance - Saudi Indian Company for Co-operative Insurance (SICCI)

Extract of Motor Insurance as provided by the Saudi Indian Company for co-operative Insurance.

Saudi Indian Company for Co-operative Insurance (SICCI) is a joint stock company established in the Kingdom of Saudi Arabia as per Royal Decree No. M60 dated 18/09/1427H. SICCI is a joint venture between Fawaz Al Hokair Group of Companies, KSA, Life Insurance Corporation of India, The New India Assurance Company Limited, India and Life Insurance Corporation (International) B.S.C.(c), Bahrain.

New India Assurance Company Limited is one of the oldest and Largest Companies operating in India.  

They provide Motor Insurance/Car Insurance in Saudi Arabia and their Policy policy provides cover to the owner of an insured vehicle against legal liability to third parties in respect of accidents caused by or arising out of the use of Insured's Motor Vehicle.  The Policy covers the following

• Limit of cover as per policy schedule subject to a maximum of:

      Death/Bodily injury

Third Party Property Damage       SR. 5 Million peroccurrence and in aggregare

• In the event of death of insured Vehicle's driver in the accident, the policy will pay the legal liability incurred due to the accident.

Requirement of  Driving License:

Effective driving license of the driver is a must for the relevant class of the vehicle for the admissibility of the claim

Exclusions:

1.         Death of or bodily injury to the driver himself
2.         Loss or 'own' damage to the insured Vehicle itself
3.         Liability incurred whilst the vehicle is used for rallies or speed testing
4.         Liability incurred while insured/authorized driver is driving under the influence of   intoxicants or drugs
5.         Liability incurred while insured/authorized driver is driving any class/type of vehicle other than as              --------authorized in driving license.                

6.         Liability occurring due to violation of Traffic Law
7.         Geographic limit: Kingdom of Saudi Arabia

The Motor Insurance policy issued in Saudi Arabia is reasonably good compared to the products available in the Market.  The minimum coverage is as per the requirements of Saudi Arabian Monetary Agency.

First Saudi Insurance Symposium on 22, 23/02/2011- Riyadh, Kingdom of Saudi Arabia - Professional Insurance Education

Mr. Mohammed Sadullah Khan, Faculty Member, Insurance Studies Unit, Institute of Banking, Riyadh, Saudi Arabia addressing the gathering of Insurance Professionals from the Insurance Industry at the First Saudi Insurance Symposium on 23/02/2011.

Mr. Mohammed Sadullah Khan of Institute of Banking with Mr. Bruce C. S. Aitken, Chief Executive Officer of ACE Arabia Insurance Company.

Mr. Mohammed Sadullah Khan, Faculty Member, Institute of Banking, addressing the queries raised by the Insurance Executives. Mr. Samy Al Ali, Chief Executive Officer of Al-Ahlia Insurance Company and the Chairman of the session is beside him.

Question and Answer Session -

Ali-Al Subaihin, Chief Executive Officer of Tawuniya - commenting on the presentation of Mr. Mohammed Sadullah Khan.



Mr. Hisham Yasin, Business Development Manager making his comment on the presentation.


 

Mr. Basem Odeh, General Manager, Arabian Shield Insurance Company making his comment.

From left to right - Mr. Alfredo Soares,Senior Associate, Mercer, Mr. Tal Nazer, Managing Director, BUPA Arabia, Mr. Mohammed Sadullah Khan, Faculty Member of Institute of Banking, Mr. Samy Ali, Chief Executive Officer, Al Ahlia Insurance Company, Mr. Hisham A. Yasin, Business Development Manager of Institute of Banking

Mr. Mohammed Sadullah Khan, Faculty Member, Institute of Banking with Mr. Syed Kaleemullah Hussaini, Manager, Arab Commercial Enterprises Ltd. and Mr. I. Bader, Senior Surveyor/Manager,Arabian Inspection & Survey Co. Ltd.

1st Saudi Insurance Symposium 2011
Riyadh 22nd-23rd February, 2011
Day & Time Topic Speaker

Day 1

8:30am Registration, morning refreshments

9:00am Welcome note Mr. Jamaan Al Wagdany, Director General, IOB

9:05am Official Opening H.E. Dr. Abdulrahman Alhamidy, Vice Governor , SAMA

9.15am Session 1: The Insurance Industry in the Kingdom

15 min. The existing paradigm shift - Competition vs. Survival Mr. Ali AlSubaihin, Tawuniya

15 min. The hidden challenge - Solvency margin requirements Mr. Harvey Duckers, GAD

15 min. Is merger our destiny? Saleh Alhnaki, Actuscope

30 min. Q&A Panel Discussion Panelist: Mr. Paul Adamson, AXA, Mr. Omar Bilani, Watania, Chairman: Mr. Ayman El Hout, Med Gulf

10:30am Coffee Break

10.45am Session 2: Insurance experience - Mega Projects

15 min. Aramco Experience Mr. Tariq M. Malak, Aramco.

15 min. Sabic Experience Mr. Naser Al Jarba, Sabic.

15 min. Brokers' Perspective Mr. Nabil Kokash, Aon Saudi Arabia

30 min. Q&A Chairman: Mr. Mousa Al Rubaian

12:00PM Prayer time and Coffee Break

12:30 PM Session 3: Market Regulation - Regulators' Perspective

15 min. The Transition from Regulation to Supervision Mr. Mohammed Al Shayea, SAMA

15 min. Compulsory Health Insurance / Way forward Dr. Abdullah Al Sharif, Council of Co-operative Health Insurance

15 min. Governance CMA

30 min. Q&A Chairman: Mr. Ali Al Ayed, Malath

01:45 PM Buffet Lunch

Day 2

8:30am morning refreshments

9:00am Session 4: Enterprise Risk Management Governance and Compliance

15 min. Successful Implementation of ERM in the KSA Insurance Sector Mr. James Peacock, S&P

15 min. Implementing Risk Management Governance & Compliance Mr. Mark Stephens, Milliman

15 min. Business Benefits of Compliance Mr. Basem Odeh, Arabian Shield

30 min. Q&A Chairman: Mr. Debo Ajayi, Milliman

10:15am Coffee Break

10.30am Session 5: Natural Risks

15 min. Natural Disasters - Regional trends Dr. Morten Karnuth, Munich Re

15 min. Mitigation of natural disasters Mr. Mike Barnes, McLarens Young Saudi Co. Ltd.

15 min. From Business Interruption to Business continuity - Case Study Mr. Ayman El Hout, Med Gulf

30 min. Q&A Chairman: Mr. Yassir Al Baharna, ARIG

11:45AM Prayer time and Coffee Break

12:30 PM Session 6: The Human Aspects of the Insurance Industry

15 min. Developing People in emerging market Mr. Alfredo Soares, Mercer.

15 min. The IOB's Contribution towards Professionalism Mr. Sadullah Khan, IOB

30 min. Q&A Chairman: Mr. Samy Al Ali, Al Ahlia

15 min. Wrapping & Close of Days 1&2 Facilitator: Mr.Tal Nazer, BuPa Arabia

01:45 PM Buffet Lunch

Type of Insurance Policies available in Kingdom of Saudi Arabia. India and world over.

(Professional insurance education).


All risks insurance,
Automobile Insurance,
Aviation insurance,
Accidental Insurance
Business interruption insurance,
Construction insurance,
Construction All risks insurance,
Car Insurance
Casaulty Insurance,
Credit Insurance,
Credit Guarantee Insurance,
Directors and Officers Insurance,
Domestic maid insurance in saudi arabia,
Employee dishonesty insurance,
Erection insurance in saudi arabia,
Fidelity guarantee insurance in saudi arabia,
Fire insurance,
Fisheries Insurance,
Group life insurance,
General insurance,
Health insurance,
Insurance education in saudi arabia,
Liability,
Life insurance in saudi arabia,
Loss of profit Insurance,
Poultry Insurance,
Public Liability Insurance,
Plant and equipment Insurance,
Machinery insurance,
Machinery Breakdown Insurance,
Machinery all risks insurance in saudi Arabia,
Marine ,
Medical insurance in saudi arabia,
Medical malpractice insurance,
Money insurance in saudi arabia,
Motor,
Personal possession insurance,
Personal Accident Insurance,
Professional insurance education in saudi arabia,
Property insurance in saudi arabia,
Property all risks insurance,
Third party insurance in saudi arabia,
Third Party Liability Insurance,
Travel insurance in saudi arabia,
Major types of Insurances
Re-insurance in major classes,
Workmen compensation,

Jinn in my office

One cloudy, misty, dusty and winter morning I woke up and found that the weather was bit chill in the eastern province of Saudi Arabia.  Whilst going to office I could find that my visibility was restricted as the weather was similar to Transylvania, the birth place of dracula.  I could feel the bony dracula's moving about on the footpaths.  I tried to re-collect the count dracula's movies where in a cold blooded vampire used to roam in the streets looking for its prey.

I reached my office on time and found that it was colder than outside.  When I touched my seat I felt like standing for few more minutes before I took my seat.   There was a bit of commotion and whispers around.  Finally one of my colleagues, a typical Malayalee, who was over conscious of the situation, went on asking, who turned the temperature control knob.  Another colleague of our's, from the mountainous region of Indian sub-continent joined us and started complaining that somebody had reduced the temperature to 5 degree centigrade and the office seemed to have frozen.  He retorted that, "I had increased the temperature and now it is bit comfortable and this has happened earlier too".

Finally our first colleague got exhausted after checking with everyone and getting a negative response.  In his eagerness to find the culprit, he did his best by cross-checking with others and taking a print out of telephone numbers dialed station-wise and re-checking them. When all his exercises became futile, he proposed that it may be the Jinn which had fiddled with the temperature knob.

This proposition me nostalgic. I had heard about Jinee when I was 4 year old.  My mother used to tell us not to go near a tree, as she had seen light and commotion during night. Early in the morning she used to find empty boxes of sweets. She also told us that her great grandfather used to control a Jinn. Other stories flickered of Jinn being responsible for changing the place of a sleeping person from one room to another room.  Many a times Jinn had thrown persons from cot to a pit. People have become mad by seeing Jinn. They can change their form and can come in any living form.  They can come out of thin air and vanish into thin air. They have males, females and children. Their preferred forms are cats and snakes. The unforgettable story of Alladin and his magic lamp, generated a fresh hope.

The very thought of Jinn brought fear and hope in my mind. I tried to explain the characteristics of Jinn to my colleagues, who were a mix of Indians and Saudis.  Gradually the office closure time approached, on that particular day our entire office became empty due to the fear of Jinn. I was the only one to be left in the office.   Inspite of lingering fear, I had to stay beyond the office hours that evening due to my commitment to work.  Whilst sitting on my computer in eerie silence, I suddenly heard a violent noise in the reception area of my office.  My breathing reduced and my eyes focused at the reception door.  I felt that this may be the Jinn, who had fiddled with the temperature knob.  I could hear small commotion outside.  Suddenly the security door opened and I found a six footer entering our office in white robe.  He was my Saudi colleague and buddy.  But he did not speak to me, I thought that Jinn might have come in his form and kept quite staring pensively at my computer.  He straight away went to the bathroom.  I hurriedly tried to finish my job and was able to complete it, before the Jinn could come out.  Immediately I rushed towards the security door, I heard some sound in the reception area and once again fear gripped me. Finally I decided to take the Jinn head on, I opened the door and was bit amazed to see one of my ex-colleague, another Saudi gentleman.  Saying a hello in low tone I rushed out of my office.  Reading verses and thanking God for not bringing me into confrontation with those Jinns in my colleague and ex-colleague form. 

The next day, I found similar commotion in my office, as was there a day earlier.  On enquiring I came to know that the entire lights of the office were on for the whole night, this made me further nervous. 

Gathering courage I confessed to my colleagues that I was not the last person to leave the office. But there was one person after me whose job was to shut the lights off.  Hence I am blameless. Then my six-footer colleague in robe, indeed confessed that he had come to office the day before and forgot to switch off the lights.  This brought a big relief to me.  Ultimately I realized that the persons whom I had seen earlier were not Jinns but human beings like us.

Mr Mohammed Sadullah Khan, faculty member and a freelance writer.

He can be contacted at mosakhan40@gmail.com

Umra and the Ugly virus H1N1

For over a year my family was pestering me for taking them to Mecca for Umra.  But due to various circumstances I was unable to take them for Umra.  Finally a decision was taken in late April to visit Mecca and perform Umra (popularly known as lesser Pilgrimage) in the last week of July.  

Since early June the Swine flu hype was escalating and it actually started spreading throughout the world with each and every case being reported and monitored by the World Health Organization.  This caused a flutter and nightmare in me. The swine flu had already reached the jurisdiction of Saudi Arabia.  I was more concerned visualizing the impact it may have at the holy places.  With fear in heart and faith in God, I did not want to disappoint my family members.  I went to the local transporter for booking the seats and hotel for Umra, the rates were comparatively cheap.  On enquiring about the swine flu and restrictions, I was informed that there is no problem so far.  Money was paid to the transporter and the seats were booked. 

On the day we were supposed to leave, it was reported in the Newspapers that a women who had come to perform Umra, had died of swine flu.  The news made me jittery.  Some of my colleagues feared for my visit and requested me to carry masks. I explained to them that the virus can enter our body from any source even by handling a knob at the door, touching the office desk or trolley at a super market. Finally I told them that Allah Karim.  Later on I contacted my brother, who is a Medical doctor about my visit to Mecca for Umra and the case of the Egyptian women.  He encouraged me to proceed without worry as we have come to an advanced stage of travel and explained about the types of Flu and their precautions.

With initial confidence, I was hoping for the last minute rescue by imagining that the government will cancel all the buses to Mecca or advise the pilgrims not to travel to Mecca, but nothing of that sort happened.  When we saw the bus, it was bustling with pilgrims.  Two Indian families, two Sudani families, two Pakistani families and rest of them were bachelors.  Among bachelors almost eighty percent were Pakistanis, the rest were Bangladeshis and Indians.

As the Bus started moving ahead my fear galloped and was mindful of any kind of sneeze or cough.  But fortunately in the entire journey no one sneezed or coughed.  Finally we reachedMecca.  Still my mind was acting like a surveillance camera, installed at the airports, scanning for persons with red eyes, temperature, cough or sneezing.  Fortunately this time I did not see anyone coughing or sneezing nor suffering from fever. 

The moment we stood in front of Kaaba, we were overjoyed, filled with excitement, felt fully blessed and forgot about everything related to the journey.  It was a real breathtaking experience after a long time. The feeling was liberating and pulsating. For two days we were engrossed in prayers with attendance to minimum daily needs. During our visit to Kaaba, it was being washed and the door was open, we had a rare opportunity to have a glimpse inside the Kaaba.

Our successful mission was over. Unlike in the past, I used to get flu after going to Umra, this time I did not have any symptoms of Flu. After our return, we realized the havoc caused by the virus. Day after day the virus was becoming more virulent. The spread of Swine flu really got out of control.  The WHO had decided not to count the number of affected persons. Restrictions were being imposed by certain clerics and countries in-respect of Haj and Umra. The Swine flu Pandemic was going ahead unabated with more infections and deaths being reported on daily basis. A new challenging question was lingering in our minds, whether to proceed on our annual vacation?

Mohammed Sadullah Khan is a Faculty Member and a Freelance writer based in Saudi Arabia and can be contacted at mosakhan40@gmail.com.

Benefits of Honey

Beautiful flowers aiding in honey production

Since times immemorial man is aware of the benefits of honey to the mankind. The honey provides enormous, amazing and astonishing benefits, which may be short of miraculous.

Honey is produced by the bees and they travel hundreds of kilometers to gather the nectar from the flowers.  Over a million of flowers need to be visited by the bees for honey which may be less than 1 Kg.  The cost of the honey also ranges on many variables like color, texture, area and benefits etc.  Overall the cost of honey is very reasonable. In-spite of consuming honey for over 2 decades I consider myself as an amateur as far as the selection of honey goes. Some of the major religious scriptures highlight the benefits of honey.  It is also used by the alternative medicine practitioners.

The honey is sweet and good to taste. It gives instant energy and it considered as energy booster. It is also used in many culinary delights. If we compare sugar with honey, the calories in the honey are lesser.  For weight reduction honey is better due to reduced calories.

New researches have confirmed most of the benefits of honey. It is a very good anti-oxidant, it has anti-ageing properties and some even have deduced that it has anti-cancer properties.  It is also considered as an immunity builder.  In olden times it has been used by the military personnel for application to the wounds as it helped in healing the wounds.  It has anti bacterial and anti fungal properties.  It is also used for detoxification. Much is discussed about Manuka honey and its utility and its medicinal properties.

It is soothing to the stomach and provides instant energy. I have a personal experience of having a good night’s sleep after consuming a teaspoonful of honey.  But one should be cautious while consuming honey.  The diabetics should take adequate medical advice and precautions before consuming honey.  Some people may also have allergy to honey. Certain types of people need to be generally cautious while consuming honey. It is better if adequate precautions are taken before utilizing it for health benefits. 

There are many discussions about honey and its benefits as a hibernation diet, the efficacy of which is not yet proven. Honey and its products are also considered to be useful in controlling bad breath, hair loss, sleep disorder, arthritis, acne, and yeast infection.

Some personal experiences with Honey has been as follows,

Benefits Lemon and Honey – The combination of lemon and honey was used but it did not reduce my weight but was helpful in maintaining my weight and health. 

Benefits Vinegar and Honey – In-order to reduce weight I tried vinegar and honey formula but was not successful and had to discontinue.

Benefits Honey and Cinnamon – This formula of honey and cinnamon was good and helped me in maintaining my weight but did not help in reducing the weight. However this is a good remedy for certain coughs and cold symptoms.

Benefits Honey and Milk - This is a good combination and benefits in the bowel movements and reducing acidity.

Benefits of Honey and Apple- This is supposed to reduce weight but in my experience it did not help me in reducing my weight.

Benefits of Honey as a hibernation diet – This did not help me in my fight with the bulge.

There are various studies which suggest that a combination of other herbs with honey cures arthritis, Flu etc. but one should be cautious while using any of the combination. Sometimes a person may have problem with using honey alone or with other combinations and there are certain disadvantages to certain people.

Nowadays it is difficult to get pure honey and it is better to get full information before getting into any regimen. For some honey may be beneficial and there are also certain disadvantages in honey. However it is useful when combined with milk/cinnamon/black pepper. It helps in controlling some allergies and cough due to cold or even dry cough. Honey is a good food and can also be considered as a super food. But it has its own limitation. It is not a magic cure or a magic formula. It should be used with proper precautions.

Benefits of Garlic

Benefits of Garlic

The Garlic, Indian name “Laissan”, is Allium Sativum, its useful ingredients and have many benefits related to health issues. If eaten raw the Garlic causes bad breath due to its smell but has numerous health benefits. It is also available in capsule form to avoid the problems of taste and smell.

For times immemorial it has been used as a cure all remedy combined with other herbs.  We have also seen the utility of Garlic in Dracula movies. Apart from this various studies have been conducted and it has been found that the Garlic consumption on regular basis is useful in preventing different types of cancers, it helps in circulation of blood (it helps in thinning of the blood), removing cholesterol and triglycerides.  Some proponents have also given it stimulant and aphrodisiac properties. 

Garlic is also having antibacterial, antiviral, and anti-fungal activity. Garlic is also beneficial in reducing Blood pressure, which is also known as Hypertension.  It benefits in the process of digestion. Many of the culinary preparations are done with the combination of Garlic and Ginger.

It has also helped some people in dealing with the issues of Acne.  It also helps in preventing the clotting of blood. Eating too much raw garlic may cause different types of problems. Using some drugs may also have problems. Few people may be allergic to Garlic.  Always better to consult the Doctor before embarking on any new regimen. Making garlic a part of diet is useful and definitely it will benefit the general health of the person. 

Benefits of Fruits

Fruits are one of the best foods on the earth.  Fruits come in different colors, tastes and textures.  They have different benefits for the human beings.  It gives instant energy for the person who is consuming the fruit.  It also satisfies the hunger.  Even some fruits are watery and they will quench the thirst. They are known as protective foods.

Fruits boost our immune system.  They can be taken any time of the day.  Some people who are allergic to foods and people with diabetes should take care before consuming large amount of foods. Fruits are usually eaten raw.  There are more benefits of eating raw fruits.  It is also consumed as Salads, Juices, Jams and some times in the form of pickles.  Some fruits are also roasted and deep fried.

Most of the fruits contain nutrients and usually rich in vitamin C.  They act as anti-oxidants.  Some of the fruits are considered as super-foods.

Fruits being considered as protective food protect our health from different diseases, it helps in maintaining a healthy body.  They are also considered as food for anti-ageing.  In terms of taste also they are excellent.   It also used in detoxification and reduction of weight.  Some people have reduced their weights by consuming fruits as a major portion of their diet.  Many fruits contain fiber and water in good quantity which helps in digestion and preventing many forms of cancer.  It is also alleviating the problems of constipation.   Due to fiber content, it helps in reduction of cholesterol, which is a major cause of heart problems.

It is always recommended to go in for seasonal fruits rather than unseasonal fruits.  The seasonal fruits are cheaper and are high in nutrients.