Qatar Insurance Company (QIC) has won the bid to offer insurance coverage to both the Hamad International Airport (HIA) and the Doha International Airport (DIA).
The request for proposal was awarded to QIC by the Civil Aviation Authority in Qatar for one year with effect from May 1, 2015 in respect of property, operational/aviation liability and motor at the HIA and the DIA, for premium amounting to QR9.33mn.
“This is the second year in a row that we have won this particular bid, which clearly indicates the level of confidence placed in our services by operators of large projects,” QIC senior deputy group president and chief executive Ali al-Fadala said.
Although the premium earned by QIC for this coverage will not have a tangible impact on the company’s financial outcome, he said it is a source of great pride and honour to provide insurance coverage for the nation’s assets - the two most valuable transportation hubs of Qatar.
Last year, a QIC-led consortium of domestic insurers, had won “single project tunnelling and rail construction insurance” from Qatar Rail for its Doha Metro project. The national insurance consortium provides “construction all risks” and “third-party liability” insurance to Phase 1 of Doha Metro Project.
Al-Fadala: Great pride and honour.
