Like other sectors of the financial services industry, the UAE insurance sector is going through a period of rapid and sustained growth.
As in other parts of the world, insurance has become an undeniable necessity for both domestic and business activities. As the demand for insurance products grows, insurance companies and insurance brokers, both local and multinational, are establishing operations in the UAE.
Regulation of the insurance industry in the UAE is becoming more stringent. New laws governing insurance company activities in the UAE were recently implemented and certain forms of insurance, such as professional indemnity insurance are becoming compulsory in certain circumstances.
As one of the leading legal consultancies advising the insurance industry, Lutfi & Co has assisted local and multinational insurers and brokers establish operations in the UAE.
Through our international network, we are able to provide cutting edge advice on all insurance related matters, including the most appropriate forms of insurance and policy wordings to cover identified and unidentified risks, risk management, insurance claims handling and procedures, subrogation issues and underwriting or reinsurance matters.