The two day forum, taking place in the Kingdom between 21 and 22 October 2013 at the Ritz Carlton, Bahrain, will gather more than 300 high level members of GAIF leading, insurance firms, other industry players in addition to banks and corporates from the GCC and MENA as well as Africa. This Forum will be attended by CEOs and Executive Managers, Regulatory Authorities, Doctors and Health Professionals, Human Resources Professionals of all Industries, Financial Professionals, Engineers and Architect, Attorneys, Accountants & Auditors, Information Technology Professionals, Insurance Professionals and Underwriters and Insurance Consultants and Brokers.
The joint efforts of the UAB, GAIF and BIA which is the first, are brought together to contribute to the Forum’s success. With this exceptional cooperation, the Forum will focus on a broad range of issues related to Professional Liability risk across sectors as well other risks associated with political violence.
Key to this will be a discussion on Banker’s Blanket Bonds (BBB), a bond purchased by financial institutions from insurance brokers to protect a bank against losses from a variety of criminal acts carried out by employees. The Forum will build awareness of the value of BBB’s as specific to the banking industry as well as risk management solutions for other sectors including Directors and Officers Insurance and other Liability Insurance products.
“This is a timely event for the financial services sector as well as others and I’m pleased that I will have the opportunity to address participants at the upcoming forum. With the growth and further development of the banking industry in addition to other key sectors of the economy, risk also increases. Drawing on Bahrain’s position as a leading hub for financial services including insurance and reinsurance, we expect strong participation and high level discussion on the innovative solutions and products available to corporate and the financial sector as we all work hard to mitigate and manage a broad range of risk in today’s increasingly challenging business and economic climate,” Adnan Ahmed Yousif, President and Chief Executive of Al Baraka Banking Group and Board Member of the Union of Arab Bank said.
“We are delighted to announce the participation of one of the long standing leaders of the region’s financial services industry,” Younis J. Al Sayed, Chief Executive Officer of Takaful International Company and the Chairman of the Bahrain Insurance Association, said.
“Yousif, with his vast knowledge and experience of regional and international financial markets and management, will add valuable insight into the important topics being debated at the Forum. His participation also serves to underscores the significance of the event for the financial services industry in addition to other corporate that may be exposed to Professional Liability risk or other factors that can pose a threat to business continuity or the liabilities of their businesses in the region and beyond.”