CMA Organize Training Programe on Motor Insurance

09 September 2015

CMA  Organize Training Programe on Motor Insurance

The Capital Market Authority represented by the Directorate General of Insurance Supervision  continued organizing training programmes for national cadres working for insurance companies to boost Omanization and enabling plans by organizing a three day programme on motor insurance during the period 7-9 September at the Intercontinental Hotel.

The programmed included  introduction and history of motor insurance,  contract law and basic principles as applies to motor insurance, road traffic, legal system, motor insurance documentation, unified motor insurance policy wording and motor reinsurance.

The progoramme is part of a series of training programmes conducted by CMA for the employees of the sector to upgrade the efficiency and proficiency of the employees which would reflect positively on their performance and productivity.

It is noteworthy that CMA is keen to enable the national  employees of the industry as the sector is able to accommodate  big numbers of graduates in various commercial, accounting and marketing subjects  as well as information technology.

The average growth of the  sector was 14.8% in the past seven years with gross premiums at RO 400 million at the end of last year, and the unaudited financial statements for the first half of this year indicate the continuation of the prosperity as the gross premiums  were RO  247 million increasing by 9% compared to the same term in the past year.