Oil, Gas, Petrochemical Sectors to Receive Reinsurance Services
August 8, 2000 - 0:0
TEHRAN Head of Iran's Central Insurance Company Abdolnasser Hemmati here Monday said that he expected major section of the national oil, gas and petrochemical industries to be covered by reinsurance services.
Hemmati told IRNA that all the assets of the oil, gas and petrochemical companies have been assessed at current rates on the basis of the market value of dollar.
Therefore, in case of any incident in the industries, there will be no problem in financing reparation of the damages, he added.
He said the most important development in the national insurance industry had been insurance of the national oil industry's installations and projects.
Hemmati added that structural change in national oil industry was made following Oil Minister Bijan Namdar Zangeneh's emphasis on providing insurance coverage to the oil industry.
Hemmati said as the first step, properties and equipment of the petrochemical industry were provided with insurance and reinsurance coverage at international level last year.
He said contract for insurance of the petrochemical projects in the coming years was signed recently and now national petrochemical industry is covered by reinsurance.
Negotiations are underway to provide national gas company with reinsurance services, said Hemmati.
Talks too have been held with officials of national Iranian oil products refining and distribution company and in future all the country's refineries would be provided with due insurance coverage and strong reinsurance facilities, added the official.
Hemmati said in talks with National Iranian Tanker Company, insurance coverage has been provided for the tankers transporting gas for export.
He said that his company has good relations with French, British, German and Swiss companies in the field of double insurance and the markets provide Iranian oil, gas and petrochemical industries with good insurance coverage.
Iran's Central Insurance Company has tried to choose the best and well credited insurance companies in terms of financial power and ability for compensating damages.
(IRNA)
Hemmati told IRNA that all the assets of the oil, gas and petrochemical companies have been assessed at current rates on the basis of the market value of dollar.
Therefore, in case of any incident in the industries, there will be no problem in financing reparation of the damages, he added.
He said the most important development in the national insurance industry had been insurance of the national oil industry's installations and projects.
Hemmati added that structural change in national oil industry was made following Oil Minister Bijan Namdar Zangeneh's emphasis on providing insurance coverage to the oil industry.
Hemmati said as the first step, properties and equipment of the petrochemical industry were provided with insurance and reinsurance coverage at international level last year.
He said contract for insurance of the petrochemical projects in the coming years was signed recently and now national petrochemical industry is covered by reinsurance.
Negotiations are underway to provide national gas company with reinsurance services, said Hemmati.
Talks too have been held with officials of national Iranian oil products refining and distribution company and in future all the country's refineries would be provided with due insurance coverage and strong reinsurance facilities, added the official.
Hemmati said in talks with National Iranian Tanker Company, insurance coverage has been provided for the tankers transporting gas for export.
He said that his company has good relations with French, British, German and Swiss companies in the field of double insurance and the markets provide Iranian oil, gas and petrochemical industries with good insurance coverage.
Iran's Central Insurance Company has tried to choose the best and well credited insurance companies in terms of financial power and ability for compensating damages.
(IRNA)