17/01/2019
On Wednesday 16 January 2019, Asharqia Chamber organized a workshop entitled "Insurance of Commercial Accounts" within the activities of the Financial Committee with the participation of specialists at the headquarter of the Chamber.
The workshop was moderated by the Committee's chairman Salah al-Jabr, and the guest speakers were Williams Jones and Rami Yaghi, officials at Iwan Middle East.
Jones and Yaghi elaborated on what the insurance of commercial accounts as they were explaining the insurance on the business receivables of the company, as most companies export their bills to their customers with open credit terms.
In this way, these bills are unsecured (credit risk).
Commercial companies face the risk that the buyer will not pay for the goods or services they provide.
So, this may lead to non-payment for several reasons such as bankruptcy or default or because of any emergency event.
The workshop pointed out that the accounts receivable is likely to be one of the most important assets of the company in terms of size.
The beneficiary can benefit from this type of insurance through the provision of periodic consultations and insurance solutions and experience in assessing the risks of insurance and structuring and servicing the insurance policies of commercial accounts, all of which offer solutions for receivables management that aimed at strengthening corporate strategy.
For his part, Al-Jabr said that the Committee and through its executive plan for the current year 2019 is seeking to implement various programs and activities in which it seeks to raise awareness of the sector, and provide the necessary information that contribute to the development and modernization of the mechanism of work.
He stressed that the workshops are part of the effective activities as the Committee intends to conduct field visits to officials and specialists in this field.
