ABA arranged the banks – insurance company’s interaction session
date: January 28, 2019
To safeguard banks assets against fire losses/ other risk, Afghanistan Banks Association (ABA) arranged the banks – insurance company’s interaction session at ABA on January 28, 2019. The meeting was attended by ABA all member banks’ Chief of Operation, Heads of Risk/Other Officials, delegates of insurance companies and ABA management.
The meeting was chaired by Mr. Najibullah Amiri ABA Executive Director. During the meeting, the insurance companies delivered presentation on their range of services, types and specification, premium, etc. Mr. Amiri encouraged banks to safeguard their assets through insurance in order to avoid any probable huge losses. He also advised insurance companies to provide reasonable insurance services to the banks. If banks come through ABA jointly, they will be receiving bulk price advantage, what ABA did for standardization of cheque books for the banking sector. “Mr. Amiri Added”
Some of the insurance companies had specific insurance products for the banks i.e. Cash in transit insurance, vault insurance, fixed assets as well as collateral insurance. The opportunity of face to face discussion also was provided for both parties to talk on the subject matter, raise their questions/concerns for prospective business deal.
Banks will raise the issue with their top management for approval. The result will be sharing with ABA till next Wednesday COB. ABA will negotiate with Insurance companies for reduction of cost and compensation reliability