NEWS
Insurance  

Life Insurance in Iran Underdeveloped

The share of life insurance in the overall portfolio of the Iranian insurance industry is meager, a fact that a board member of Middle East Insurance Company, which specializes in life insurance, ascribes to the lack of an insurance culture in the country.

“In developed countries, at least 30% of people have life insurance policies but this number is next to nothing in Iran and stands only at about 3-4%,” Seyyed Hossein Salimi also told IBENA.

The executive, who is also deputy chairman of Middle East Bank, noted that while the banking system has made significant headways in the past few years, the insurance industry has failed to keep up.

“The people are still not receiving any education on insurance and cultural beliefs are not directed in a way to encourage the purchase of insurance policies even as it saves them when an accident happens,” he added.

Salimi, who is also deputy head of the Money and Capital Commission of Tehran Chamber of Commerce, Industries, Mines and Agriculture, said remarks made by Abdolnasser Hakimi, director of Central Insurance of Iran, that the country’s uninsured risks amount to $3 trillion have been corroborated.

“Insurance companies also do not correctly inform the public on the variety of loss coverage services,” he concluded.  

 

Comments:

Leave a Comment:

   
   
   
 

TCCIMA head calls on government to increase IPOs in stock market

The head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) called on the government to increase the number of initial public offerings (IPOs) in the country’s stock exchange, IRNA reported on Tuesday.
 

Iran authorizes 74 domestic companies to build petro-refineries

Iranian Oil Ministry has authorized 74 domestic companies for the construction of petro-refineries across the country, IRNA reported on Monday, quoting Deputy Oil Minister for Planning Houshang Falahatian as saying.
 

Official urges govt., private sector to set up taskforce to spur export amid coronavirus outbreak

Head of Energy Commission of Tehran Chamber of Commerce Hamid-Reza Salehi on Sat. called on government and private sector to set up Economy-Industry Headquarters amid the outbreak of the novel coronavirus in the country.
 

Tehran to host seminar on trade with Russia in early March

Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) is going to hold a seminar on trade with Russia with the aim of familiarizing Iranian businessmen with procedures of the Russian customs.
 

TCCIMA holds meeting to improve production, business

Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA)’s committee for “improving the business environment and removing production barriers” held its 15th meeting to discuss production and business-related issues.
 

TCCIMA to host conference on Iran-India trade

Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) is going to hold an Iran-India trade conference on February 17, TCCIMA portal announced.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners