SEWA Delegation Engages With Marsh McLennan On Insurance Solutions For Energy Sector Growth

A team from the Sharjah Electricity, Water and Gas Authority (SEWA) recently visited Marsh McLennan in London. This visit aimed to showcase SEWA's initiatives and future goals to top insurance experts. The delegation included Majid Hussein Al Mutawa, Dr. Hassan Ahmed Hassan Abdullah Al Zarouni, and Hadef Sultan Mohammed Al Saleh Al Tunaiji.

During discussions with Marsh McLennan's International Energy and Utilities Insurance Team, the delegation explored global insurance industry trends. They also examined Marsh McLennan's services and discussed potential collaborations to enhance insurance offerings for critical infrastructure. SEWA aims to boost its production capacity in Sharjah, necessitating stronger ties with insurers.

The visit highlighted SEWA's role as a regional leader in energy distribution. It underscored the importance of long-term partnerships in the sector. The delegation also met with major insurers like STARR, Allianz, Score, and QBE to strengthen relationships further.

The delegation discussed implementing new insurance solutions aligned with industry best practices. One proposal was an owner-controlled construction insurance programme for comprehensive contract coverage throughout the year. This programme would offer benefits such as cost control and consistent coverage oversight by an insurance committee.

Cyber risk assessment was another key topic during the visit. With rising cyber threats globally, especially in the Middle East, establishing a robust cyber insurance framework is crucial for SEWA. This framework will help protect assets from potential attacks.

Strategic Partnerships for Growth

SEWA plans to collaborate with Marsh McLennan and Al Buhaira National Insurance to develop its risk and insurance framework continuously. This partnership aims to align with international standards, ensuring SEWA remains a leader in the energy sector.

The delegation also visited Lloyd’s of London to explore additional opportunities. These efforts are part of SEWA's proactive risk management strategy, which supports its growth and innovation plans for the future.

SEWA's commitment to enhancing its risk management framework will play a vital role in its continued success. By working closely with leading insurers, SEWA aims to ensure comprehensive coverage for its operations while fostering innovation in the energy sector.

With inputs from WAM