Deposit insurance and lack of awareness among citizens

by **Rocky** Sun 31 Jan 2016, 6:32 am

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Deposit insurance and lack of awareness among citizens

by Rocky Sun 31 Jan 2016, 6:32 am

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Baghdad Studies
Stressed economic researcher Abdullah Star that there is a lack of insurance awareness in Iraq, and the Iraqi general insurance company paid the remainder of the faithful loans have banks in the event of death, while stressing the need for legislation compulsory insurance law for all citizens, as this of interest to them and stressed that collective activity outcome Insurance of 46 billion Iraqi dinars.
Abdullah said in an economic research published through the (Journal) The Iraqi insurance company subsidiary of the Ministry of Finance and is authorized to exercise the different types of life insurance and funds in accordance with international standard documents accepted, noting that the company has been able after 2003 to achieve its plans, especially the secure reconstruction projects Iraq and Altherutin national and human.
He added that the insurance process is facing two problems, the first weakness of private insurance awareness among the classes that do not exercise a significant economic activity for the ignorance of the concept of insurance, and the other for the novelty of this activity in Iraq and practice on a small scale, noting that insurance companies bear part of the problem they will not focus on public awareness and organization advertising campaigns and wide as a result of the limited financial allocations.
He explained that the Iraqi insurance company found a modern way of e-commerce through the use of evidence Iraq trade, and the dissemination of advertisements across corporate websites, also prepared illustrations for services message, pointing out that the company's experts and Khavera visiting companies wishing to insurance to discuss gaps and ways to address them and correct storage ways to avoid accidents, and to spread awareness of insurance.Promised economic researcher, that the insurance activity is linked to the nature of the movement and economic reconstruction projects, stressing that the company's haste to go for any project and display documents on those who support it. He believed that the greatest achievement of the company is a large-scale move towards government and private banks that lend to citizens to put forward the idea of insurance on the lives of the borrowers against the risk of death and terror to benefit from their expertise in this area with the Land Bank, which extends for more than half a century.
He said that the company paid the remainder of the loan to the bank the amount in the event of the death of the borrower insured his life to it, to keep the housing unit owned by his family and added that the company has succeeded in signing with banks, Rafidain and Rasheed, agricultural, industrial and real estate, insurance on the lives of borrowers, covering more than two million borrowers currently. And it went economic researcher that some error is believed that the banks are of stroke loans to the deceased, ignoring that the insurance company is to pay the remaining balance discharged if they are believers their lives to it, pointing out that "the company has expanded its activity to include borrowers to buy cars through insurance on their lives and their cars against fire, theft or terrorism incidents, also included the activity of peasants, accept as compensation to a person's life and one million dinars monthly premium of only 12 thousand dinars. "
A promise that this trend had approvingly citizens, especially after the company paid huge amounts of money to borrowers who died before the payment of their religion, and went on that "the company believes in the life of a borrower take a loan from the government as well as a large number of ministries and staff."
Abdullah said the company "paid to the families of the martyrs of the popular crowd amounts of compensatory and paid their debts in recognition of them of their sacrifice, and between the insurance companies in the world stands on two pillars The first is the size of insurance premiums, which are meant to be withheld as part of the precautions, and the second is to invest funds that it receives, and rely in it controls the three, the first to invest in the field of content does not accept the loss, and the second diversity, and the third of profitability. "He stated that the company is investing a lot of real estate in various cities of Iraq, and has another in the process of investing, as well as properties seized by the organizing Daash terrorist in the usurped territories, following the company millions of shares and contributions capitals mixed sector companies Kalmhrobat gas and other industrial companies have, as well as investment Status of credit amounts in fixed deposits take the financial revenues. He went martyr, that "collective activity proceeds of the planned public present in 2015, amounting to 46 billion dinars, the actual investigator from $ 30 billion, an implementation rate of 60%," noting that "the planned general insurance of nine billion dinars, effective from 11 billion, by the implementation of 125 %, and individual insurance five billion, four billion by the actual implementation of 83%. "
He criticized the lack of compulsory insurance in Iraq, with the exception of insurance of civil liability arising from the use of cars when the process run over or accident, there is a box with the national insurance company pays compensation, and there was a mandatory lock on engineering insurance articles in the contract conditions oblige the contractor to pay insurance in order to compensate the injured worker or the collapse of the building, but recently canceled. He continued that "some banks forced borrowers to insurance so as to ensure their rights as what had been any accident," afterthought but there is no law that obliges banks to insurance. "
He called for "the issuance of compulsory insurance law for all citizens, as this will benefit from them," stressing that "the insurance company is always trying to be an array of customers when they are compensated for any accident."
And on the fraud on the insurance companies, Abdullah counted as a "global state is not limited only to Iraq," noting that "the company's controls and Scouts as they employ the expertise of civil defense and archives investigative under controls the state to assess the accident and the payment of insurance or not.""The market Shorja, central Baghdad, was excluded from insurance because of poor storage and the difficulty of fire trucks pass, but the urgency of customers forced Insurers Association, which includes government and private insurance companies, to establish Shorja complex, and that all of them mutually supportive to pay compensation to those affected." He revealed "the existence of nearly 30 civil insurance company in Iraq, including strangers two companies compete with one another with the General Insurance Company to offer its services and share their experiences," noting that those "companies sometimes meet to secure a huge project."

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